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BIOMASS - Gainesville City Commission 12-1-2011 Citizen Comment

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Uploaded on Dec 3, 2011

In view of ongoing global financial volatility and the diminishing credibility of the Gainesville City Commission and GRU on persistent Sunshine Law violations, an emergency review of the information provided to Moody by Gainesville Regional Utilities and the City Commission headed by Mayor Craig Lowe is highly recommended.

The nonrecourse debt financing for the City of Gainesville in Alachua County, Florida (Gainesville Regional Utilities, American Renewables, GREC, Gainesville Renewable Energy Center) is being provided by the Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as coordinating lead arranger, as well as Natixis, Rabobank Nederland, ING Capital, Crédit Agricole and Société Générale. Equity is being provided by the parties involved in the development of GREC (Energy Management Inc., BayCorp Holdings Ltd., and Tyr Energy Inc.), as well as by certain principals of Fagen Inc., the contractor building the facility. Christopher Smith acted as financial advisor to the project; Cadwalader, Wickersham & Taft acted as counsel to the borrower; and Chadbourne & Parke acted as tax counsel to the borrower. In view of ongoing global financial volatility and the diminishing credibility of the Commission and GRU on persistent Sunshine Law violations, an emergency review of the information provided to Moody by GRU is highly recommended.

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