Henry McClure "Live" you paid the bonds
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Under the fingernails
Built in 1963, the Chalet Apartments in Topeka, Kansas, presents a history of fluctuating management and tenant experiences. While online advertisements tout a charming, "old-world European atmosphere" and recent renovations, reviews from past and current residents tell a more complex story of persistent maintenance issues, outdated units, and safety concerns. The property has also been the scene of serious crimes, including stabbings and an explosion, which have prompted police investigations. Architectural history The Chalet Apartments were built in 1963 and feature a distinct architectural style intended to evoke a European atmosphere. The 233-unit, three-story complex was constructed in four phases, with the final phase completed in 1987. Advertisements highlight its unique design, landscaped grounds, and convenient location near Gage Park. Management and renovations Management of the Chalet Apartments has shifted over the years, leading to variations in the resident ...
Here's a detailed explanation of the Mayor's veto power and its specifics, according to Kansas state law:
Mayoral veto power in Kansas General Veto Power: The mayor has the authority to veto any ordinance or resolution passed by the city council, with the exception of charter ordinances. Notification of Veto: If the mayor vetoes an ordinance or resolution, they must provide written notice to the council within two days of the veto. Veto Overrides: The city council can override a mayoral veto. To do so, they must pass the vetoed ordinance or resolution again, but this time with an affirmative vote of at least five members of the council. Failure to Override: If the council does not pass the vetoed measure again within two weeks after the next regular meeting following the veto notification, the ordinance or resolution will not take effect. No Action from Mayor: If the mayor does not sign or veto an ordinance or resolution within two weeks of its adoption, the measure will take effect without the mayor's signature. Signing Contracts: The mayor is responsibl...
Summary of Moody's Ratings Action for Topeka, KS (August 9, 2024)
Rating Actions: Moody's affirmed Topeka, Kansas' Aa3 issuer and general obligation unlimited tax (GOULT) ratings. Affirmed Aa3 senior lien and A1 junior lien combined utility revenue ratings. Assigned Aa3 rating to $26.5 million Combined Utility Revenue Bonds, Series 2024-B. Total outstanding debt post-sale: ~$560 million (GOULT and utility revenue bonds). Outlook: Stable. Rationale: Issuer/GOULT Aa3 Rating: Reflects Topeka’s economic growth, strong housing demand, and robust operating reserves/liquidity, supported by conservative budgeting. The state capital status offsets weaker per capita income and full value. Leverage ratio (~250%) aligns with peers, with planned $26.5 million debt issuance through 2028 expected to maintain this level. Senior Lien Utility Aa3 Rating: Driven by a large, stable service area, multiyear rate increases, strong liquidity, and infrastructure investment. Despite elevated debt, bond covenants (1.25x rate covenant, debt service reserve) are satisf...
So, the total rent expense (under "Occupancy") paid is $360,824.
Based on the provided Consolidated Statement of Functional Expenses for Growth Organization of Topeka/Shawnee County, Inc. and Subsidiary for the year ended December 31, 2022, the expense categorized under "Occupancy" (which typically includes rent) is: Economic Development: $248,124 Events: $1,193 ETLG: $16,942 Marketing: $0 General and Administrative: $94,565 Adding these amounts together: $248,124 + $1,193 + $16,942 + $0 + $94,565 = $360,824 So, the total rent expense (under "Occupancy") paid is $360,824 .