Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
California's Largest Bank Invests in City of Compton's Future
IFS Securities negotiates note offering

COMPTON, Calif., Feb. 19, 2013 /PRNewswire/ -- Wells Capital, a division of Wells Fargo Bank, agreed today to purchase $5,000,000 in a short-term security bond offering from the City of Compton, CA, (the City), in a tax revenue anticipation note (TRAN) negotiated by IFS Securities (IFS).

IFS Securities, the City's investment banker, had several buyers interested in the City's note offering. "The city manager's recovery plan and the positive action taken since his arrival last August was a key factor in obtaining the order for the whole note issue from Wells Capital," explained Craig Walker, IFS Securities vice president, public finance. "By utilizing a lockbox structure of revenues which is a first for Los Angeles County we were able to provide security to Wells Capital and flexibility for the City," he added.

The City of Compton's finance team for the offering included IFS, underwriter; Comer Capital Group, LLC, financial advisor; Peck Shaffer & Williams, LLP, bond counsel; Sevfarth Shaw, LLC, special counsel; and US Bank, trustee.

"After an extensive review of the City of Compton's finances, it's great to have one of the largest banks in California validate Compton's credit worthiness, especially in light of the financial rumors the City had to address in 2012," City Manager G. Harold Duffey, said.  This is the stated opinion of Duffey as the bank has not expressed a public opinion.

Duffey acknowledged that the TRAN was possible only with the support of the Los Angeles Board of Supervisors and Los Angeles County's Administrator and Auditor Controller. The County agreed to establish a "lockbox system" in which proceeds that would normally be distributed to Compton would be held in trust and paid directly to Wells Fargo. This process, the first of its kind in Los Angeles County, reduces the creditors risk and allows the City to receive an advance on its tax allocations.

Last summer the City had to fend off speculation that it would file bankruptcy by September. "It's February 2013 and we are still in business," Duffey added.  The City, like most cities in California, depends on sales and property taxes that flow from the state or county government and those distributions are cyclical. However, expenses occur on a monthly basis, which sometimes lead to cash flow issues.  "Cities usually address cash flow needs by issuing short-term internal borrowing from other funds," reported Brandon Comer, Comer Capital Group, the City's Financial Advisor.

"I think we are moving the City in the right direction," Duffey said. The City hired a new auditor to resolve issues from the unsigned 2010/11 audit. CalPERS dropped its lawsuit against the City and the City is in good standing with its retirement accounts. It's also important to note that this debt will be repaid by June 28, 2013, with remaining 2012/13 property and sales tax allocations.

"IFS is pleased to have served the City and assist in their entry into the capital markets. Institutional credit access is a key component for cities and counties to manage their finances properly.  By assisting Compton on their first TRAN we feel proud to have made that capital market access possible with such a high quality institution as Wells Capital," commented IFS Securities President Alex McKenzie.

About IFS Securities

IFS Securities, Inc., is a full-service independent broker-dealer who understands retail and wholesale advisory networks as well as global capital markets.  Based in Atlanta, GA, IFS Securities has 32 offices in 17 states and Puerto Rico and is a member of FINRA, MSRB and SIPC.  For more information about IFS Securities, visit the website at www.ifssecurities.com or call 678-690-8523.

SOURCE IFS Securities

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest AJAXWorld RIA Stories
At the beginning of the book the authors say they created this book to be used in a classroom setting. I agree that it is a great book for the classroom, but I would also recommend it to anyone who wants to learn about the current Agile methodologies. It does what the title of th...
As an enterprise and software architect the one thing I hate most about my job is documentation, yet the importance of doing documentation on sizable projects is what I find myself preaching about the most. One reason I understand the importance of documentation is that I came f...
The premiere issue of the Internet of @ThingsExpo Newsletter contains highlights of the hottest sessions and speakers from Internet of @ThingsExpo, Call for Papers information, and sponsorship opportunities.
“At Cloud Expo in NYC last week I sat in on the Internet of Things power panel and then presented about how to monetize the Internet of Things. The room was packed, standing room only and I stuck around for a full 30 minutes afterwards answering questions before I had to tear mys...
Express Logic, Inc., the worldwide leader in royalty-free real-time operating systems (RTOSes), introduces X-Ware™, an integrated, optimized, comprehensive middleware solution that provides a solid foundation for Internet of Things (IoT) development. X-Ware consists of Express Lo...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE