Wednesday, June 12, 2019

NEW KCI JUNK BONDS ON SALE TODAY!!!



Actually, the bonds are rated A2 by Moody’s, A by S&P and A by Fitch. Even better, Kansas City going into deep, deep debt until 2055 was featured by a somewhat popular muni-bond website with a lot of great info. Accordingly, as Morgan Stanley attempts to sell this town's future . . . We remind readers that Kansas City taxpayers are on the hook for this money, this town has already had to front MILLIONS for the project despite repeated lies that we'd never have to pay a dime.

You decide . . .

11 comments:

Anonymous said...

A shiny bauble with empty promises and outright deception dropped in front of the under- and uninformed voters. Why would they possibly even care about what they leave for their great grand-babies in 2055? It's a live-in-the-moment attitude combined with the great mag tagline: What, Me Worry?

Anonymous said...

So, we know we've been bent over. The real question is who will be most generous with the lube -- Jolie or Quinton?

Anonymous said...

great grand-babies in 2055?



Nah. As the grand babies grow up, they'll be smart enough to just leave this shitty before investing in residences. Of course that won't bother the assholes who doomed KC to its fate. They'll be dead, but will have siphoned off all the wealth before their demise.

Anonymous said...

Trump will save us - after all, he's a "Stable Genius" who just bragged that he had "destroyed China's Economy by 150%", so he'll be able to fix this mess with a snap of his fingers, just as soon as he get 150% of "The Wall" finished and makes Mexico pay for 150% of the cost.

Anonymous said...

What does Trump have to do with local City management? He can put in place all the measures he wants to to give local law enforcement tools they need to fight crime. But, like in Chi-town, they're so on top of things they don't need or want any help from the fed cause Trump = orange and orange = bad in the eyes of the progs.

Anonymous said...

So, as further proof of the lies told to the KC Voters...
"The 2019 bonds are special obligations of the city payable by the city subject to a City Council as a senior annual appropriations obligation for debt service. The senior annual appropriation for the Airport obligations are to be derived solely from the net revenues and/or any other funds appropriated by the City Council. Net revenues consist of all income, receipts, earnings and revenues received by or accrued to the City from the operation and ownership of Kansas City International Airport and other airports owned by and operated by the City after the payment of operation and maintenance expenses of such airports."

The key phrase being... "...The senior annual appropriation for the Airport obligations are to be derived solely from the net revenues and/or any other funds appropriated by the City Council." In other words, if the "net Revenues are not sufficient, the KC Taxpayers are on the hook for any shortfall, just as with the P&L District, but on Steroids!

DEMAND A TOTAL STOP TO THS NNESENSE NOW!

Anonymous said...

why didn't morgan stanley go under with lehman brothers. Morgan stanley indeed are a bunch of negligent, criminal cock suckers.

Anonymous said...

The new mayor should have the entire project audited by a truly independent entity that is prohibited from contact with the city managers office. Citizens have a right to know the full scope of the debt and how it has been funded to date.

Anonymous said...

Est/ new airport completion date is 2030 or right after Mission Gateway and downtown baseball stadium whichever comes first.

Anonymous said...

Based on past KC performance, an estimated 2030 opening probably means limited service by 2045, followed by correction of construction errors and failures, then fully open by 2053.

Two additions to the Bond Issue to cover overruns will mean the $887.000.000 original issue, maturing in 2055, will have to be re-financed, and the overall total will be in the $2.4 Billion range.

Anonymous said...

^^^^ Good comment. Wish the newspaper would sum the finances so succinctly .