The San Francisco Airport Commission refunds $110 million in fixed-rate revenue bonds with new variable-rate bonds to lower its overall interest cost.  •  The San Dieguito Union High School District responds to the turbulent auction-rate market by converting $90 million in ARS bonds to fixed-rate securities.  •  De La Rosa & Co. generates $41 million of retail orders to reduce yields and save the L.A. County Metropolitan Transportation Authority significant interest costs on a $25-million Sales Tax Revenue Bond issue.  •  The L.A. Community Redevelopment Agency obtains a strong investment-grade rating on a $12.5-million Taxable Tax-Allocation Bond issue for the Westlake Recovery Project.  •  Despite a tough market, Beverly Hills successfully refunds $31 million in water revenue bonds and $17 million in wastewater revenue bonds for economic savings.  •  The Gridley Redevelopment Agency clears various hurdles caused by tightening credit in the municipal market to successfully execute its first tax-allocation bond financing.  •  Riverside issues unenhanced Bond Anticipation Notes to mute the effects of the collapse of auction-rate securities and prudently control interest costs.  •  The Sacramento Regional County Sanitation District restructures $50 million in auction rate securities with better performing, direct pay variable-rate bonds backed by letters of credit.  • 
 

Coming Home
“I joined the Board to get more involved, especially in the Y Scholars program to help underprivileged kids get ready for college.”

Ralph Holmes was elected last year to the Board of Managers of the Berkeley-Albany YMCA. For Holmes, a De La Rosa & Co. Principal, it was like coming home.

“I went to high school across the street from this Y. When I was 15 and 16, I wanted to lift weights and play basketball, so my friends and I would volunteer on Friday nights for ‘kinder gym’ with little kids while their parents used the facilities.”

Holmes and his family have lived in the East Bay for 10 years and have been active YMCA members since 2001. His daughters, now 12 and 8, learned to swim here and played basketball when they were younger.

“In many ways it’s the same Y, but it has really expanded. They went through a big expansion in the early ‘90s.”

The YMCA has pioneered educational and athletic programs since it was founded in 1852. The association is credited, for example, with originating group swimming lessons

“I joined the Board to get more involved, especially in the Y Scholars program to help underprivileged kids get ready for college.”

The Berkeley-Albany YMCA was founded in 1903, and today serves more than 23,000 people of all ages yearly with programs that run the gamut from Head Start to a Seniors Book Club.
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