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Lightening the Debt Load at Ontario
Airport
De La Rosa & Co. served as Senior Manager on a 2006 refunding of all
outstanding debt at Ontario Airport by the City of Los Angeles’ Department of
Airports. De La Rosa spearheaded the effort to increase the airport’s
flexibility to define net revenues, its debt-service reserve fund, and swap
language. DLR also helped reaffirm its “A” rating and obtain aggressive bids
from the major bond insurers.
(complete version)
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Helping CSMFO Adapt to the Changing Game in Public Finance
The California Society of Municipal Finance Officers recently held its annual conference, drawing CSMFO members from every corner of the state to Burlingame for three days of workshops, speakers and opportunities to share information.
The theme of the 2011 event was “Change is the Name of the Game in Public Finance,” and from the opening gavel on Feb. 23 to the closing gavel two days later, De La Rosa & Co. helped participants adapt to rapidly evolving economic conditions. De La Rosa officers played a substantial role planning and leading panels and planning the 3 day schedule of events, keynote speakerships and networking sessions.
DLR Partner John Kim and Vice President Holly Vocal served on the host committee, which worked with the CSMFO Board and program committee to develop and plan the theme, events, speakers, programs and activities. Kim and Vocal also created an innovative off-site session on public infrastructure and affordable housing that combined a 90-minute workshop and 1-hour bus and walking tour of the San Francisco Redevelopment Agency’s Mission Bay project.
On Feb. 25, DLR Partner Paul Rosenstiel introduced keynote speaker Mac Taylor, who was appointed California’s nonpartisan Legislative Analyst in 2008. Taylor gave an overview of the State fiscal status and assessed Governor Jerry Brown’s proposed budget as “a good starting point” that involved risks and challenges, most notably reliance on a June election to extend taxes. He also offered a generally positive assessment of two proposals affecting local government – realignment and the elimination of redevelopment agencies.
“Conference attendees were treated to the kind of candid and informative presentation that Mac Taylor is known for,” Rosenstiel said later.
Later that day, John Kim helped present an overview of the City of Beverly Hills’ five-point plan to control future increases in health benefits, OPEB and pension costs. Also on the panel were Chief Financial Officer Scott Miller of Beverly Hills, Attorney Marcus Wu of the HansonBridgett law firm, and Senior Vice President Brad Au of Aon-Hewitt Consulting.
One participant said in a follow-up survey that the Beverly Hills “session made the entire conference worthwhile! (This was the) first time I heard this issue addressed in a positive way.”
Conference Co-Chair Jesus Nava thanked De La Rosa for the firm’s time, energy and creativity. “John and Holly helped introduce tours to the conference, helped secure speakers for our program and, as liaison with our commercial members, helped advocate for the interests of our vendors and sponsors. In short, they made our lives much easier,” said Nava, who also serves as Finance Director-Treasurer of Burlingame.
The CSMFO was founded in 1957 as a statewide organization dedicated to excellence in government financial management. More than 1,600 finance officers and industry leaders now belong to the professional association.
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