The City of Los Angeles has received a favorable pay-back rate on notes it borrows while collecting revenue through a fiscal year.
This is despite the best saboteur efforts of former Mayor Dick Riordan, who ran around to Wall Street trying to ruin the City's credit rating last year, hoping to shake down the City's unions and inadvertently causing a financial panic.
Dick Riordan and LA's collapsing orgs
Dick and the Daily News
Riordan, Broad, the Eastside Latino Machine, and the Legacy of District 5