order non hybrid seeds LandRightsNFarming: Fwd: Fw: prison bonds industry

Sunday, January 29, 2012

Fwd: Fw: prison bonds industry



---------- Forwarded message ----------
From: jack danials <cornmash007@yahoo.com>
Date: Sun, Jan 29, 2012 at 7:26 AM
Subject: Fw: prison bonds industry
To:




--- On Sat, 1/28/12, rob1802@aol.com <rob1802@aol.com> wrote:

From: rob1802@aol.com <rob1802@aol.com>
Subject: prison bonds industry
To: rob1802@aol.com
Date: Saturday, January 28, 2012, 9:50 PM

 
 

From: kelwendee@gmail.com
To: bananabeltgriner@gmail.com
Sent: 1/27/2012 4:33:13 P.M. Central Standard Time
Subj: prison bonds industry
 
From: "truth@truthpress.org © ™ original works" <truth@truthpress.org>
Date: Fri, 27 Jan 2012 07:15:01 -0600
Subject: North Carolina's examples illustrate how it has departed from
traditional financing methods and is increasingly using appropriation
debt financing to support prison expansion, which also has had its
share of problems.

<http://www.publicbonds.org/controversies/contro_over.htm>

http://www.wariscrime.com/2008/11/07/news/how-illuminati-are-trading-prisoners-like-cattle/

** note, prison bonds are bundled with and as mortgage bonds if the above
article is correct 100%*
<http://www.wariscrime.com/2008/11/07/news/how-illuminati-are-trading-prisoners-like-cattle/>
http://www.publicbonds.org/bond_porc/bond_proc.htm

*
http://www.forbes.com/2008/10/22/prison-correctional-bonds-pf-ii-in_aa_1022fixedincome_inl.html
* <http://www.publicbonds.org/controversies/contro_over.htm>


*
* <http://www.publicbonds.org/controversies/contro_over.htm>

*http://www.publicbonds.org/controversies/contro_over.htm*<http://www.publicbonds.org/controversies/contro_over.htm>

*
* <http://www.publicbonds.org/controversies/contro_over.htm>

*OVERVIEW OF PRISON BOND CASE STUDIES*

As noted in the *Prison Finance* section, over the last two decades, a
majority of new prisons (both public and private) have been financed by
issuing different kinds of bonds. Lease revenue bonds and certificates of
participation, in particular, have been widely used. The issuance of these
bonds often involves creating new entities such as non-profit building
corporations or shell agencies that serve as conduits for facilitating the
process. But such arrangements also add to ambiguity over ownership and
lack of accountability and liability when problems occur.

In spite of the increase of the number of prisons and other infrastructure
projects funded with bonds, many of these projects have been marked by
problems relating to their financing mechanisms. When bond deals are put
together without adequate due diligence or public participation, they can,
as some of the cases in this section will illustrate, create serious
financial and legal challenges for communities and municipalities.

*Such problems can arise because a project may be ill-conceived. For
example, in the case of Grady County, Oklahoma, officials issued $17.5
million in bonds to finance two county jails that could end up in default
because projected revenue streams were unrealistic. The county is exploring
options to get out of its financial mess. *

In some cases, elected officials may not be aware of the implications of a
deal or contract. For example, elected officials in the state of Louisiana
claimed that they had not been told that the state was legally bound to
make payments for the Tallulah Youth Facility even if the facility closed.
The state continues to pay $3.4 million in annual debt service payments,
after Tallulah's juvenile detainees were transferred to other locations,
because bond rating companies threatened to downgrade the state's credit
rating if it stopped making payments.

The Texas examples show how the bond issuance process can be influenced by
community engagement and how communities are using the public participation
process to negotiate projects. North Carolina's examples illustrate how it
has departed from traditional financing methods and is increasingly using
appropriation debt financing to support prison expansion, which also has
had its share of problems.

For more see:

   -  Arizona

                       The Kingman
facility<http://www.publicbonds.org/controversies/kingman.htm>

   -  Lousiana

  The Tallulah Juvenile
Facility<http://www.publicbonds.org/controversies/tallulah.htm>

   -  North Carolina

Three prisons in Anson, Alexander and Scotland Counties &
Two prisons in Greene and Bertie
Counties<http://www.publicbonds.org/controversies/nc.htm>

   -  Oklahoma

Two jails in Grady County<http://www.publicbonds.org/controversies/grady.htm>

   -  Texas

La Salle County Facility<http://www.publicbonds.org/controversies/lasalle.htm>

Hudspeth facility <http://www.publicbonds.org/controversies/hudspeth.htm>

Reeves County Detention Center
III<http://www.publicbonds.org/controversies/reeves.htm>

Other Texas cases<http://www.publicbonds.org/controversies/other_texas.htm>




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***Mel G*