Enclave: Mayor’s debt refinancing deal quietly coming to council

Big Debt Board by merfam [see correction below]. As far as I can tell, no CMs have raised any questions about it and the press seems to be ignoring it. As the plan proposes the refinancing of up to $280,000,000 as “in the best interest of the citizens of the Metropolitan Government,” it is fair to ask how much the refinancing is going to cost us in the short-term. For instance, how much will the Mayor pay Metro’s identified Financial Advisor, First Southwest Company, to pursue refinancing? What other costs or fees will Metro incur, and from what part of the General Fund will those costs or fees come? These are lean budget times, but the Mayor did not help the our situation when he embarked on the largest capital project in Nashville history (Music City Center, which directly serves tourists, but not our local communities). For the time being he is paying for that construction with tourists taxes previously designated for the Nashville Predators. To compensate the hockey club, he has shifted money from our General Fund. I have a hard time believing that the risk we face with current debt structuring is any greater than the jeopardy the Mayor put us in by embarking on the Music City Center project. Regardless, the refinancing proposal needs more consideration than either council members or news media is giving it. CORRECTION: CM Emily Evans pointed out to me that this bill is actually a bond resolution, which means it will go on 1 vote rather than on a consent agenda for 3 votes. What that means to me is even less chance for council debate.
Source: blogspot.com

Video: Debt and Refinancing tips

debt refinancing schedule 2012

PARIS — The European Central Bank announced Wednesday that it is loaning about $640 billion to European banks for an unusual three-year term as part of its effort to free up credit tightened by the euro zone’s government debt crisis . Statistics released by the Frankfurt-based ECB showed that 523 banks signed up for the loans, the largest infusion of since cash since the euro became the common … Read more
Source: debttoincome.net

Oakey Power agrees debt refinancing as part of capital reduction programme

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Source: projectfinancemagazine.com

3 Tips to Refinance Credit Card Debt the Right Way

Refinance to another unsecured debt if refinancing to a secured debt is not possible. In many cases even unsecured personal loans have lower interest rates than credit cards. Many personal loans are even marketed by banks to be used as debt consolidation loans to assist you in refinancing your credit card balances. Get in touch with the bank that you have a relationship with to see if they can offer you some assistance. If they are unable to help you in this arena, shop around just like you would if you were looking for a secured loan. Credit unions tend to have the best rates because they are local and are not usually in business to turn a large profit, but leave no stone unturned. Remember, the most important thing is staying out of debt, so cut up your credit cards or close your accounts to avoid putting the balances back on the accounts if you choose to refinance.
Source: creditcardsfree.org

Debt And Refinance by Thomas Straub

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Source: thedownloadplanet.com

EUROPEAN ECONOMIES Behind the ECB’s Wall of Money

The ECB is the only institution in the European Union that is able to provide unlimited funding to governments, but its governing statute prohibits government bailouts. Nonetheless, the ECB has provided large amounts of liquidity to the financial system, indirectly softening the pressure on government debt refinancing. For 18 months, it has been buying government bonds – worth more than €200 billion ($254 billion) – on secondary markets under its Securities Market Program. Moreover, it has provided loans to the banking sector, recently launching a three-year refinancing operation that generated demand from eurozone banks for €489 billion.
Source: peopleunlikeus.com

Tags: debt, Government, lean budget, nashville history, nashville predators

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