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.  • 
 

On The Ball
I've never been so drained in my life, but it's always fun to compete in a sport you love while raising money for such a great cause.

In 1994, Betsy Gravett, an energetic mother and talented tennis pro, was diagnosed with an aggressive, inoperable brain tumor. Three years later, Kim Ferrier established a women’s doubles tournament to commemorate her friend, raise funds for cancer research, and assist Bay Area residents in their own fights with cancer. The annual event has since grown to include men and women’s divisions at various skill levels, and now draws more than 100 participants – including many ex-pros and current Division I and II college players – to the Mission Hills Tennis Club in Fremont.

Last July, De La Rosa & Co. Associate Michael Meyer successfully defended his 2005 Men’s Open division title, winning a championship match that lasted 3 hours 30 minutes. “The ‘on-court temp’ was over 115 degrees. I've never been so drained in my life, but it’s always fun to compete in a sport you love while raising money for such a great cause.” De La Rosa supported Meyer’s efforts by participating as a silver sponsor.

More information about the Betsy Gravett Cancer Foundation is available online at http://www.gravettfoundation.org/tennis.html
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