Reply to Why does Montgomery County government still maintain a monopoly on alcohol distribution?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Revenue can be replaced and they had a massive windfall this year because they got voters to revoke the property tax cap. The real reason is that they prefer MCGEO to whatever union would represent private sector warehouse workers and drivers. [/quote]
I understand the problem in your lack of understanding is because you don’t understand how bonds work.[/quote]

They can retire that debt, refinance it, or a combination. [/quote]
That’s not how secured bonds work. Privatizing ABS would result in a condition of default which would lead to an obligation to immediately repay bond holders. The default would then affect the county’s credit rating.

Please learn something before sharing bad ideas. Thanks. [/quote]

People who sell their house with a mortgage on it are also "defaulting" on their mortgage covenants, yet this happens all the time? How? By paying the lender/bond holder to exit the bond early. It's not a default then, IF the bond allows early exit.[/quote]

The “expert on county debt” is posting in bad faith. It takes about 10 minutes of research to figure out what can be paid off early and what can’t. It’s not without cost, though. Some people who read this board have worked on deals far more complex than government liquor revenue bonds. [/quote]

Okay. Please do share your research. Time for show and tell. [/quote]

Here you go. You’re an expert so I’m sure you can find the relevant portions on your own. And please also tell us where the official statement identities policy changes as a repayment risk, because it does.

https://www.montgomerycountymd.gov/BONDS/Resources/Files/2021_montgomerycounty_bonds_os.pdf[/quote]

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