Wednesday, September 21, 2005

BOND BROKERS BILK TAXPAYERS FOR SECRET BILLIONS?


Los Angeles, CA., Ever since Proposition 13 was approved by the California voters in 1978, there has been a Constitutional provision that public indebtedness must be approved by the voters. In spite of this fact local and regional public officials have been authorizing and issuing billions in controversial, non-voter approved, tax exempt bonds known as COPs, Certificates of Participation. They have been doing so upon the advice of their bond counsels, bond brokers and underwriters all of whom are paid handsome fees for each approved transaction.

This controversial public finance practice is the topic of an eight minute video blog debate to be released on the Internet on Monday, September 26, 2005 by the Full Disclosure Network™ on the website at www.fulldisclosure.net.

Featured in the debate are:

State Controller Kathleen Connell
(ret), who says most voters think they have the right to approve public indebtedness when in fact that could not be farther from the truth. “Since the 1980’s governments and schools have been issuingCOPs without voter approval”.

Jon Coupal, President of the Howard Jarvis Taxpayers Association: Describes the role of the bond brokers and bond counsels who advise public agencies to issue Certificates of Participation because they make sizable commissions and fees for handling the bond transactions. These fees are paid before the bond money ever reaches the public agencies.

David Tokofsky, LAUSD Board Member: Says the school district legal counsel and bond counsel advised the Board members to issue the bonds without voter approval and he defended the practice saying the voters elected him and therefore the did approve of the bonds, through his vote, representing them.

Anthony Patchett former Belmont Learning Center bond fraud prosecutor described the Certificates of Participation Bonds as “a pyramid scheme” where the voters are totally in the dark. The money is borrowed, the brokers and bond counsel paid and more bonds are issued to pay off the bond previous bonds.

Moderating the debate is Emmy Award winning host Leslie Dutton
Video clips for this blog were selected from a series of full-length programs which are featured on 40 cable television systems. Over the past three years Full Disclosure™ has interviewed the people involved in the financing of school projects, including the planners, developers, investigators and prosecutors on the Belmont bond fraud investigation. Cable channels are listed by community and air times on the website.

Sunday, September 18, 2005

SHERIFFS DEBATE: BADGES & GUNS FOR DONORS?


Los Angeles, CA. Internet video bloggers and just plain surfers will be able to watch a debate between Orange County Sheriff Mike Carona and Los Angeles County Sheriff Leroy Baca who are featured in a eight minute Full Disclosure™ video blog explaining their policies on taking political contributions from Reserve Deputies, Under Sheriffs and personnel in their Departments.

On Monday, September 19, 2005 Full Disclosure Network™ will launch this video blog via streaming media Internet, worldwide on their web site at www.fulldisclosure.net. Moderating the debate is Emmy Award winning host Leslie Dutton.
Mike Carona explains why he issues a gun and badge to ordinary citizens and his policy on accepting political campaign contributions from those very same people. Then Los Angeles County Sheriff Lee Baca describes his policy on accepting campaign contributions from his Under Sheriffs, Deputies and Department personnel.

Video clips for this blog were selected from a series of full length programs which are featured on 40 cable television systems. Over the past thirteen years Full Disclosure™ programs have explored police policies, politics, corruption and reform, interviewing all the LAPD Chiefs from Ed Davis to William Bratton as well as the Southern California County Sheriffs. Cable channels are listed by community and air times on the website..

Sunday, September 11, 2005

ILLEGAL SCHOOL BONDS? SECRET MEETINGS? DECLINING ENROLLMENT??

Los Angeles, CA. Was it legal for the Los Angeles Unified School District to issue $1 Billion plus in non-voter approved bonds in semi-secret meetings over the past several years? And, who advised them to do so? Did anyone challenge the LAUSD actions? The answer to these and many other questions is included in a two-part, one-hour interview by Full Disclosure™ host Leslie Dutton, to be featured on 40 cable systems and on the internet via streaming media beginning Monday, September 12, 2005.


The Full Disclosure Network™ will video stream a four and a half minute (4:30) video preview on the www.fulldisclosure.net website containing comments from David Tokofsky on the following :



  • Declining enrollment in the LAUSD is merely a temporary phenomenon and illegal immigration is a factor to be considered when planning the cost of running and building schools .

  • LAUSD regularly issues non-voter approved, tax-exempt bonds, known as Certificates of Participation (COPs) even though Proposition 13 mandated a vote of the people on public indebtedness.

  • The controversial and obscure process of how the Board of Education issues tax-exempt bonds was a advised by LAUSD legal counsel and the District’s bond counsel (who charges a fee on bond transactions).

  • LAUSD has never been faced with a legal challenge on any of the non-voter approved COP bond issuances

  • Nor have the transactions been challenged by the Howard Jarvis Taxpayers Association, which supports Proposition 13.

  • According to L.A. County Office of Education and LAUSD Inspector General Don Mullinax the school district has up to $1 Billion in outstanding COPs. A fact, of which the public is generally unaware and will have to be repaid from the General Fund.



    For the past two years Full Disclosure Network™ has produced a number of hour-long interviews with the key leaders involved in the Los Angeles Unified School District development, financing, planning, including the controversial Belmont Learning Center Complex. A complete listing of channels and airtimes can be found on our website at: http://www.fulldisclosure.net/Channels/channelsINDEX.htm


#####

Saturday, September 03, 2005

SHERIFF & LAPD CONFLICT ON ARRESTING ILLEGALS


Los Angeles, CA. The pros and cons of having local law enforcement officers uphold U. S. immigration law is the topic of an eight (8) minute video blog debate between Orange County Sheriff Mike Carona and the LAPD officials who developed the controversial Special Order 40, which prohibits Los Angeles Police officers from asking if a person is in the country legally.

On Tuesday, September 6, 2005 Full Disclosure Network™ will launch its latest video blog on the Internet, worldwide with a fast-moving debate between Sheriff Carona, LAPD Chief Daryl Gates (ret) and two former Presidents of the Los Angeles Police Commission, Edith Perez and Rick Caruso.
Daryl Gates, Edith Perez and Rick Caruso defend the LAPD Special Order 40, which was enacted by Gates in 1979 and offer their perspective, citing lack of resources to enforce U.S. immigration laws and fear that illegal immigrants may not report crimes or serve as witnesses if police officers are enforcing immigration laws.

Mike Carona explains the new Orange County Sheriff Department program to cross-train, and cross-deputize his Sheriff Deputies so they can enforce U. S. immigration laws. This will allow them to have access to the Federal criminal data base with the expectation they will arrest and prosecute criminal illegal aliens who return to the U. S. after deportation.

Video clips for this blog were selected from a series of Full Disclosure™ programs hosted by Emmy Award winning host Leslie Dutton on the issue of Immigration Policy over the last ten years. The programs were originally featured on 40 cable systems and video streamed from www.fulldisclosure.net worldwide on the Internet where cable channels are listed by community and air times .