PROGRAM # 389
GUEST: Kathleen Connell
TITLE: Controller, State of California, 1995 to 2003
Taped 3-12-04

WHO IS WATCHING OVER BILLIONS OF TAXPAYERS' FUNDS? California school districts are so financially dependent upon non-voter approved bonded indebtedness "that if we shut down entirely Certificates of Participation (COP's) , we would not have functioning school districts in California." According to former California State Controller Kathleen Connell (1995-2003) who described the State Controller's function in the cash flow and public debt reporting process to Full Disclosure Network® host Leslie Dutton in a two-part program.

PROGRAM # 390
GUEST: Richard Knickerbocker
TITLE: Constitutional Attorney and Former City Attorney

WHAT HAPPENED TO PROP 13?
Taped 4-12-04

Los Angeles-CA-Could the bondholders on the Belmont Learning Center actually take possession of the five high schools and three middle schools pledged as collateral for the 1997 Certificates of Participation if the L. A. Unified School District defaulted these on non-voter approved bonds? The answer isYES, according to Constitutional Attorney Richard Knickerbocker, a former Santa Monica City Attorney who was also the Redevelopment Agency legal counsel.."If we can't pay our debts, we take out a loan on our house. And then we spend all that money on our debts, and then we have to pay our mortgage payments, and we can't pay our mortgage payments, and we lose our house." Knickerbocker told Full Disclosure Network® host Leslie Dutton in the second half of a two-part program covering school financing. Part one featured California State Controller Kathleen Connell (1995-2003).