My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
WSP12366
CWCB
>
Water Supply Protection
>
Backfile
>
12000-12999
>
WSP12366
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/26/2010 4:14:46 PM
Creation date
10/12/2006 5:34:10 AM
Metadata
Fields
Template:
Water Supply Protection
File Number
8210.140.20
Description
Colorado River Basin Organizations and Entities - Colorado River Basin States Forum - California
State
CA
Basin
Colorado Mainstem
Date
1/1/1940
Author
Metro Water District
Title
Metropolitan Water District of Southern California - Second Annual Report
Water Supply Pro - Doc Type
Annual Report
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
122
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />'I ' <br /> <br />...... ~-. " <br />.!.. . . '".r <br /> <br />CHAPTER I <br /> <br />FINANCING <br /> <br />THE financing of the District's construction operations was ex- <br />plained in the history and first annual report for the penod <br />. ending June 30,1938. Since that time construction costs have <br />been financed from the final issue of $60,000,000 of bonds sold to <br />the Reconstruction Finance Corporation on March 4, 1938. <br />As related in the report, in order to obviate the necessity of the <br />District's carrying large sums of idle money and to materially <br />minimize interest costs, the Reconstruction Finance Corporation <br />permitted the District to deliver bonds (interim certificates) in <br />installments as funds were required for the construction of the <br />project. This practice has continued, and during the period from <br />June 9, 1938 to June 30, 1940 interim certificates evidencing pay- <br />ment for $20,088,000 of said $60,000,000 of bonds were delivered <br />to the Corporation. While this final issue of bonds bears interest <br />at the rate of 5?'c per annum, on December 14, 1939 the Reconstruc- <br />tion Finance Corporation advised the District that it would adjust <br />the interest rate to 4?o per annum until March 31, 1942, so long as <br />it held such bonds or interim certificates. Interest refunds have <br />been made to the District accordingly. <br /> <br />Rcjijulnci'ng OpeP((tio1zs- - - - - - <br />As stated in the previous report, $147,000,000 of refunding bonas, <br />in temporary form and exchangeable for definitive bonds, were de- <br />livered to the Reconstruction Finance Corporation in exchange for <br />interim certificates evidencing payment of $147,000,000 of original <br />bonds bearing interest at the rate of 5'}'0 per ann urn; $73,556,000 <br />of the refunding bonds bore an interest rate of 4% per annum, and <br />$7:3,444,000 a rate of 41/: % per annum. In April, 1989 the Recon- <br />struction Finance Corporation offered to exchange $16,992,000 of <br />the 41/: % temporary refunding bonds for a like aggregate amount <br />of 3\>,,% temporary refimding bonds. The issuance and exchange <br />of the refunding bonds were authorized by the board of directors <br />and on April 19. 1939 $16,992,000 of 4%% temporary refunding <br />[iJ <br /> <br />'1 <br />
The URL can be used to link to this page
Your browser does not support the video tag.