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5/7/2025 1:19:54 PM
 
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Section 18: Worcester County Subject: County Hearing Msg# 1224917
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| Is there a potential violation of bond covenants? Or does the County general funds backstopping bond issues render my question moot? Regardless, given the history of back room shenanigans I would caution investing in any future Worcester County bond issues. | ||||||
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For reference, the above message is a reply to a message where: Good job. Thank you. Still, all that sweat was hardly necessary since, "bond counsel advised against transferring debt across service areas". Rather basic stuff. Those bonds were probably sold based on the projected cash flows of the service areas that the proceeds were used for. Bond investors in OP service area bonds would be screaming if failing utilities' debts were being serviced by OP service area cash flows. |
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