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October 17, 2012     The Adams County Record
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October 17, 2012
 

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Page20 Wednesday, October 17, 2012 The AdamsCountyRecord FROM ZIONS BANK Editor's note: As I reported some time back, Council's City Council agreed to a major refinancing deal through Zions Bank. The bank sent an article on the arrangement that contains a few added details. Here are the pertinent parts of the article. The City of Council will use a loan from the Idaho Bond Bank Authority to refund a promissory note that was used to finance emergency repairs to the wastewater treatment facilities of its sanitary sewer system. With the refunding, the city expects to secure a lower interest rate, which will generate savings for ratepayers, according to Council's City Clerk Tami Testa. "We're pleased to be able to work through the Idaho Bond Bank Authority to take advan- tage of low interest rates and save money for our taxpayers," Testa said. Nine cities ranging from Nampa in the west to St. Anthony in the east and north to Coeur d'Alene are refunding outstanding loans through the IBBA. "This is one of the more complex and sig- nificant public finance transactions ever done in the state of Idaho; said Cameron Arial of Zions Bank Public Finance, who serves as financial advi- sor to the city of Council as well as the majority of cities participating in the bond issue. Arial said the deal is the largest in the IBBKs l 1-year history in terms of the total amount, the savings generated and the number of partners involved. "This is a historic deal for the Idaho Bond Bank Authority and the State of Idaho that will gener- ate benefits for citizens across our great state for years to dome," said Idaho Treasurer and IBBA Chairman Ron Crane. The bond sale is set to take place in mid-Novem- ber and to close in mid- December. The Idaho Bond Bank 's $245,000 Authority, created by a constitutional amend- ment approved by the citizens of Idaho in 2000, allows municipalities to pool smaller bonds into a single, larger issue and secure more favorable rates and terms than they could achieve individu- ally. The Bond Bank also pledges sales tax revenues as additional security, fur- ther reducing interest costs. Backed by the state's Aal credit rating, the bond bank can provide lower cost of capital to munici- palities who have had their applications approved per the Bond Bank's credit policies. "We can pool several projects together and issue one bond for that entire package rather than each of those entities try- ing to issue separately," said Crane. "Individually, it is very difficult for a small issuer to take a bond to market. By com- ing through the Bond Bank, we can help'them gain access to the capital markets at more favor- promissory note able rates than they could achieve on their own. They also benefit from econo- mies of scale by sharing the costs of issuance: Ken Harward, executive director of the Association of Idaho Cities and a member of the IBBA's board of directors since its inception, says the deal benefits taxpayers. "During these challenging economic times it's even more important that cities and local government get the very best deal they can for the limited resources they have," Harward said. About the IBBA q-he Idaho Bond Bank Authority is a state-level entity that lends money to local governments within the state, with the goal of providing funds for their infrastructure needs and access to the capital markets at competitive interest rates. The board of directors is composed of five members, includ- ing Treasurer Ron Crane, who serves as chairman. Additional information is available at http://sto. idaho.gov/services/IBBA/ About Zions Bank -- Zions Bank operates 26 full-service branches in Idaho and 106 branches throughout Utah. cation process O17 Guest column submitted by the Idaho Congressional Delegation: Senator Mike Crapo, Senator Jim Risch, Congressman Mike Simpson and Congressman Raul Labrador The privilege of nominating young Idahoans to United States military academies is one of our most enjoyable opportunities as U.S. Senators and Representatives. These young people are the future of our country, and we are always impressed with the Idahoans who apply. As authorized law, each year elected officials have the honor of nominating deserving young women and men to the U.S. Air Force Academy, ColoradO; the U.S. Military Academy, New York; the U.S. Naval Academy, Maryland; and the Merchant Marine Academy, New York. Acceptance into these academies provides students with a tuition-free, four-year undergraduate education, valued at approximately $400,000. Graduates have by jobs after graduation, as they are commissioned as officers and spend a minimum of five years on duty. Additionally, their education and training make them competitive for graduate programs and future jobs. High school seniors interested in attending an academy should submit completed application packets http://www: crapo.senate.gov/services/ academy.pelf by November 30, 2012. In addition to In response to our request for venison recipes, Lynn Siegel contributed this adap- recipes tation of a Crock Pot broth and adds extra beef stew recipe. She Worcestershire sauce. substitutes Lipton soup mix for the beef mlm m m m m mm m m m m m m m mm mm m m m ml ml m m mm m m m m,m m m m m m m Imlm ! ! I ! m Venison Stew ' I I m INGREDIENTS m I I m 21,bs. venison, cut into 1-inch sauce m I cubes 1 clove garlic, minced I I C flour 1 bay leaf I ! ! m t salt 1 t paprika m m % t pepper 4 carrots, sliced m m 1 Cbeef broth or Lipton onion 3 potatoes, diced m I soup mix 1 onion, chopped I ! 1 t (or more) Worcestershire 1 stalk celery, sliced I I I I I I I I m Put meat in slow-cooker. Mix flour, salt and pepper, and pour over meat; m stir to coat meat with flour. Add remaining ingredients and stir to mix well. m Cover; cook on Low 10 to 12 hours (High 4 to 6 hours). Stir before serving. m m Serves 6. m m m mm mm mm mm mm mm mm mm mm mm imm imm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm m m ~ the short application, an essay; three letters of recommendation, ACT/ SAT scores, a transcript and class rank at the end of the applicant's junior year of high school, and a completed principal/ guidance counselor form are required. Applicants are also encouraged to apply to all offices involved in academy nominations, including both of your U.S. Senators, your U.S. RePresentative and the Vice President. Offices require that the application and complete packet must be in by November 30th of the applicant's senior year of high school. High school graduates who Day, an annual event to provide students, parents and counselors with information about each academy and how to obtain a congressional nomination. Those who are interested but unable to attend an Academy Day can access information regarding the application process on each of our websites, or by contacting one of the following: Karen Roetter, (Senator Mike Crapo), (208) 664- 5490 Vicki Fulton, (Senator Jim Risch), (208) 667-6130 Lisa Anderson, (Congressman RaCfl Labrador), (208) 888-3188 Linda December if they receive a nomination, but the individual academies make the decisions about actual acceptances. Those completing a nomination application must also open a file with the academies. While the process is rigorous, the qualifications are achievable. We are continuously impressed, but not surprised, by the talent and commitment of Idaho's youth. Idaho has many promising young leaders, and we wish all those who are interested in this path the best in the process. You may access each ~delegation member's Culver, website through the are seventeen years old, (Congressman Mike following links: http://www. but not yet twenty-three, Simpgon), (208)734-7219 crapo.senate.gov/; can apply.by July 1 of the A nomination is not www.risch.senate.gov/; year they would enter an an acceptance into anhttp://www.simpson.house, academy, academy. It is the first step and http://www. This month we are in the process. 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