Laserfiche WebLink
4/14/2015 <br />But what if the FMPA <br />has a positive value? <br />Then why would an exiting member city need to pay a <br />penalty to exit? <br />Why should a member be stripped of its 3o year investment <br />in the FMPA and pay a penalty? <br />If other member cities were to exit the FMPA, who <br />ultimately would receive all the assets and penalty <br />proceeds? The last city standing? <br />Transparent, Fair and Equitable <br />• Members Cities ought to know what their 3o year investment in the FMPA is worth. <br />• Member cities ought to book FMPA equity at Fair Market Value on the member <br />cities' CAFRs so that the public is better informed. <br />• After 3o year of ownership, the public ought to have the right to the return of its <br />capital invested in the FMPA. <br />• The FMPA should sell exiting members FMPA assets outside of the agency. Such a <br />sale should not harm members who wish to remain with the FMPA as that <br />remaining member's FMPA assets would remain in tact. Nor would it harm <br />bondholders as their loans would be repaid. <br />• Such a sale of exiting members assets, outside of the agency, would be fair to ALL <br />including bondholders, member cities wishing to remain at the FMPA and the <br />public who wishes to leave the FMPA. <br />