Earlier I mentioned that the AG’s Office screwed the pooch on the bond deal by taking a week to add language to some of the documents. Both the Treasurer’s Office and Comptroller’s Office had their minor fixes ready within a day and could have moved forward and made the sale before the state’s credit rating was downgraded. By having to wait the state has to pay about $20 million more in interest. Below are the typical version and the modified version:
Typical
Modified for Rod’s arrest:
One week’s worth of work. Amazing.
<!– /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:””; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”; mso-fareast-font-family:”Times New Roman”;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.25in 1.0in 1.25in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} –>
That’s a $20 million copy-and-paste job