Travis County Commissioners Court
December 18, 2007
Health Facilities Development Corporation
Now let's call to order the Travis County health facilities development corporation. An easy item here, consider and take appropriate action on resolution approving bonds to be issued by Travis County health facilities development corporation for the benefit of longhorn village. Thank y'all for coming, by the way, all of the participants.
>> judge, members of the board, ladd pattillo, financial v.i.p.er to the corporation. This is the longhorn village project. This is an amended resolution that authorizes these bonz. Bonds. What we've asked to do is have the flexibility to do all the bonds on a variable rate basis. When the jp morgan chase tested the market, and this has been very volatile market in the last two months because you mentioned subprime mortgage and the lending rates. The feasibility assumption was getting the financing at six and a half, but they always believed it would be more closer to six. And with the testing of the waters in a volatile market a couple of weeks ago it was north of seven. So by doing it on a variable rate base we get on the shortened of the yield curve and they can fix it by doing swaps. You can do a swap agreement that fixes the rate and it will be south of six now to be able to get this done.
>> do the longhorn finish people know about this?
>> yes. They're the ones that have okayed it. They had to okay that.
>> that's why I move approval.
>> second.
>> questions? Your recommendation is for us to approve it.
>> yes.
>> all in favor? Show Commissioners eckhardt, Gomez, yours truly moving in favor. Commissioner Davis abstaining. Let's take wowrn two pictures here and let this gentleman be done. He's been here since nine this morning trying to get us.
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Last Modified:
Wednesday, December 19, 2007, 18:30 AM