Travis County Commissioners Court
May 4, 2010,
Item 2
Item number 2 is a public hearing to receive comments regarding the host jurisdiction approval of a proposed issuance of tax except bond by the colorado educational and cultural facilities authority benefiting educational media foundation in a principal amount not to exceed $21 million. Mr. Davis.
>> good morning, mar visit davis manager of your county corporations. I was notified early this morning that this transaction is on hold. They have requested that no action be taken on item 32, which is the action item for this public hearing. But the colorado education and cultural facilities authority, which is an entity sponsored by the state of colorado, has requested to issue $21 million of nonprofit tax except bonds of which approximately $6 million would be used in travis county to acquire an existing for-profit radio station license which about $5.7 million would be used to purchase the license and the equipment, which would cost about $250,000. Educational media foundation is a california nonprofit owner of approximately, i think, 46 radio stations, no, 280 radio stations in 46 states around the country. They have an existing, a radio station in the on you stain area. So this would be acquiring a different frequency than they have here now. I did notify all the noncommercial radio stations in austin about this public hearing sent them an e-mail and a message. I had no, nobody voiced any opposition to this transaction. I had one reply from kut radio which is in your backup. Other than that, i'm here to answer any questions you might have.
>> we have been challenging you to think outside the box and charging ourselves too, mr. Davis. Apparently you have been traveling a bit outside the box too, colorado, california. There is public benefit hereyes.
>> yes.
>> for those who do not readily see it, exactly what is it?
>> well, the public benefit would be the radio station has a good track record, according to kut radio, as far as the ability to manage radio stations and operate them. So, you know, that would be the public benefit, would be that that frequency would be continued to be used to provide a service to our citizens. And it would turn a for profit frequency into a nonprofit frequency.
>> for those one --one deering, when we authorize one of these issuances, there's legal liability for us.
>> right, this hearing is required by the internal revenue code. Part of the bonds being qualified as tax exempt. The locally jurisdiction in this case being the county government has to sign off and approve the transaction.
>> okay. Yes, commissioner.
>> since it's the colorado educational and cultural facilities authority issuesing the bonds, i want to make it clear it's not travis county issuing the bonds. It's another entity.
>> right.
>> it's a procedural thing, as i understand, that we have to sign over since part of those monies would be spent in our jurisdiction.
>> you don't have to sign off on it.
>> oh, we don't.
>> but in order for them to be able to issue the bonds, then they have to earn your approval.
>> right, right.
>> we have to approve their issuing the bonds. No liability on our part.
>> that is right.
>> the law requires i guess some local jurisdiction to approve them.
>> that's right.
>> so if travis county--
>> i think the tower, which is the governing thing that causes this, because it's right on the border of travis county and williamson county. The tower is located in travis county and it's not in a city. A city could approve if it was located therewe are posted for public hearing. Would anyone like to testimony during this public hearing beginning with mr. Referseed.
>> good morning, yes, there ronnie refer seed, ron paul enthusiist. A couple questions, where is the headquarters for this organization?
>> it's in, they are located in california.
>> okay.
>> i'm not sure of the city, though.
>> okay. California based organization.
>> uh-huh.
>> and what is the frequency that we're talking about? Is it 90.5?
>> card--according to the e-mail they are trying to purchase 105.9.
>> oh, 105.9. And what is the form mat that they are planning on using?
>> is that revealed?
>> according to their website, educational media foundation says they are a not for profit community organization dedicated to developing connections and touching lives through a deeper understanding of each other and cries--christ.
>> developing connections and trust, i guess you could say. Okay, so that has already been decided. In other words they have already planned out their format. My follow-up question is who decides. I guess they already decided. It's the pbs organization that makes these kind of decisions?
>> i don't think so pbs is connected.
>> okay, i'm sorry.
>> would you like for mr. Davis to give us the information you have and you can contact them, mr. Referseed?
>> sorry, i said pb s. I meant ku t. Is that what you said?
>> right. The information about the frequency came from q--kut.
>> okay, thank so much. Thank you, sir.
>> would anyone else like to give testimony during this public hearing? If so, please come forward.
>> move the public hearing be closed.
>> second.
>> so we ask to postpone for a week or to pull until further notice?
>> to pull until further notice.
>> okay. All in favor of the motion that passes by unanimous vote. Item number 32 will be pulled. And we'll put it back on at the appropriate time in the future.
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Last Modified:
Tuesday, May 4, 2010 1:50 PM
