Police arrest man suspected of committing 13 various crimes in Lebanon

LEBANON, OR (KPTV) –

The Lebanon Police Department Wednesday arrested a man that they suspect was involved in at least 13 criminal incidents in the Lebanon area.

Through various surveillance videos and witness accounts, police were able to identify 25-year-old Ryan Ally as the suspect.

Ally reportedly went on a crime spree between the months of September and November and was arrested on multiples charges of unlawful use and entries of motor vehicles, burglary, possession of heroin, and theft.

Officials said Ally did express some remorse for those he had victimized and said he wanted to stop his actions.

Officials were able to return many stolen items including cell phones, tablets, laptops and other electronic devices to their original owners.

Police are investigating other crimes that may be connected to Ally.

Copyright 2015 KPTV-KPDX Broadcasting Corporation. All rights reserved.

‘Mosaic’ to piece together various music styles

School of Music students will showcase their talents on Dec. 6 when their yearly performance “Mosaic” begins at 4 pm in Eisenhower Auditorium.

When the lights go down, music will begin promptly and continue without pauses for applause or adjustments until intermission and the end of the concert. Director of Choral Activities Christopher Kiver said the concert consists of two 45-minute halves, so each performance ranges from four to five minutes in length.

Of the nearly 400 concerts put on every year, Kiver said “Mosaic” stands out from the rest stylistically.

Moody’s assigns #Aaa to $930M State of California Various Purpose GO Bonds

New York, December 04, 2015 — Moodys Investors Service has assigned #Aaa ratings to thirty-one
maturities of defeased State of California Various Purpose General Obligation
Bonds. This rating action affects $930,050,000
of aggregate debt refunded pursuant to the November 3, 2015 escrow
agreement.

SUMMARY RATING RATIONALE

The #Aaa rating is primarily based on the secure structure of the
escrow, and permitted investments. Permitted investments
consist of cash and non-callable and non-prepayable direct
obligations of the Treasury of the United States of America (Federal
Securities). Any substitution of securities held in the escrow
requires an updated verification report performed by a CPA, certifying
that sufficient funds will remain to pay principal and interest due on
the bonds until maturity. Reinvestment of funds is not expected
to occur but amounts held in the Surplus Money Investment Fund may be
use to purchase permitted investments as long as they mature in the amount
at least equal to the purchase price and when funds are required,
unless escrow sufficiency is verified by a CPA firm.

WHAT COULD MAKE THE RATING GO UP

-N/A

WHAT COULD MAKE THE RATING GO DOWN

– Downgrade of counterparties or investment providers which is
not expected over the near term.

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was Approach to Pre-Refunded
and Escrow-Backed Bonds published in December 2014. Please
see the Credit Policy page on www.moodys.com for a copy
of this methodology.

REGULATORY DISCLOSURES

For ratings issued on a program, series or category/class of debt,
this announcement provides certain regulatory disclosures in relation
to each rating of a subsequently issued bond or note of the same series
or category/class of debt or pursuant to a program for which the ratings
are derived exclusively from existing ratings in accordance with Moodys
rating practices. For ratings issued on a support provider,
this announcement provides certain regulatory disclosures in relation
to the rating action on the support provider and in relation to each particular
rating action for securities that derive their credit ratings from the
support providers credit rating. For provisional ratings,
this announcement provides certain regulatory disclosures in relation
to the provisional rating assigned, and in relation to a definitive
rating that may be assigned subsequent to the final issuance of the debt,
in each case where the transaction structure and terms have not changed
prior to the assignment of the definitive rating in a manner that would
have affected the rating. For further information please see the
ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.

Regulatory disclosures contained in this press release apply to the credit
rating and, if applicable, the related rating outlook or rating
review.

Please see www.moodys.com for any updates on changes to
the lead rating analyst and to the Moodys legal entity that has issued
the rating.

Please see the ratings tab on the issuer/entity page on www.moodys.com
for additional regulatory disclosures for each credit rating.

Richard Kubanik
Analyst
Public Finance Group
Moodys Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
USA.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

David A. Parsons
Asst Vice President – Analyst
Public Finance Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Releasing Office:
Moodys Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
USA.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moodys assigns #Aaa to $930M State of California Various Purpose GO Bonds

Winter weather wear left in various downtown Eau Claire locations for people …

Eau Claire (WQOW) – Scarves, hats, and mittens are being donated at the Eau Claire State Theater to be hung in trees for people in need.

All items received at the theater will be hung on trees starting Sunday, Dec. 6 in Phoenix and Wilson Park with inspirational notes attached.

Organizers said anyone who needs a little extra warmth this winter is welcome to take the items. Anything remaining on trees on Christmas Eve will be taken to homeless shelters in Eau Claire.

The theater is open from 9 amuntil4:30 pm Monday through Friday, until 7 pm on Thursdays, and open Saturday from 10 am- 2 pm for anyone who would like to drop off donations that can also include coats, boots, snow pants, slippers, and blankets.People can enter at the art gallery lobby facing the LE Phillips Memorial Library.

On the same side of town, a Good Samaritan left hats, mittens, and coats on statue, poles, and trees all overBarstow Street. The items had notes with them saying Im not lost. Take me if you need me. Pass along what you can please.

Businesses on Barstow said the items arrived Wednesday, and they have no idea who is doing the good deed.

Various equities trend lower

The share index slipped back into negative territory today with a marginal decline to 4,467.850 points as various equities trended lower.

Given that the index trended in negative territory for most of this week, the local equity benchmark registered a 0.3 per cent weekly drop largely reflecting the declines in IHI, GO and RS2 as well as the 22.2 per cent reversal in the share price of Malta Properties.

Today, the share price of Bank of Valletta eased 1.1 per cent lower back to the euro;2.29,5 level across 18 deals totalling 41,083 shares. The bank is scheduled to hold its annual general meeting on December 17 during which shareholders will be asked to approve a number of resolutions including those related to the dividend and bonus share issue as well as the election of six directors from the eight nominees.

Also in the banking sector, the equity of FIMBank released some of the recent gains with a 5.1 per cent drop back to the 65cUS level on volumes of 20,000 shares after touching a new high of 70cUS.

The equity of RS2 Software plc retreated for the second consecutive session with a further 0.4 per cent decline back to the euro;3.08,7 level on very high activity totalling just under 100,000 shares.

Similarly, Medserv shed 0.9 per cent back to the euro;2.10 level on shallow volumes of 3,000 shares.

Yesterday Medserv held its extraordinary general meeting during which all resolutions were approved, namely the acquisition of the METS Group, an increase in the companys authorised share capital and the authority given to the board of directors to issue and allot equity securities and to withdraw/restrict shareholders pre-emption rights.

The payment of the net interim dividend of 8c per share and the allotment of four new shares for every five held is now expected to take place by Wednesday.

The only other negative performing today was Malta Properties Company with a 1.8 per cent decline to 56c on high volumes of 158,910 shares.

On the other hand, the share price of HSBC rebounded by 2.8 per cent to regain the euro;1.79,9 level albeit on low volumes of 10,000 shares.

Likewise, shallow activity took place across the equity of Malta International Airport which edged 0.3 per cent higher to regain the euro;4.01 level on just 1,447 shares.

Meanwhile, GO ended this mornings session unchanged at the euro;2.95 level after recovering from an intra-day low of euro;2.90 on total volumes of 18,140 shares.

This morning, MaltaPost published its preliminary results for the financial year ended September 30 revealing a record pre-tax profit of euro;3.4 million largely reflecting the growing volumes of international mail services, registered mail, parcels and packets.

The directors recommended the payment of a final net dividend of 4c per share to all shareholders at the close of trading on December 14. Shareholders will have the option to take up the dividend either in cash or in new shares at the attribution price of euro;1.80.

On the bond market, the RF MGS Index slumped 1.2 per cent to a fresh three-week low of 1,136.352 points as the benchmark 10-year German Bund yield surged to just below the 0.7 per cent level.

The uplift reflects the markets disappointment at the additional stimulus announced by the European Central Bank yesterday afternoon which did not include an increase in the amount of monthly asset purchases from the current level of euro;60 billion a month.

Subscriptions for the euro;75 million 3.5 per cent Bank of Valletta Subordinated Notes 2030 from the general public and Preferred Applicants (namely BOV shareholders) close this afternoon.

www.rizzofarrugia.com

Gujarat CM seeks Denmark’s cooperation in various sectors

Denmark on Thursday expressed eagerness to expand cooperation with Gujarat and develop partnerships with the state government in various sectors.

Danish Ambassador to India Taksoe Jensen Peter paid a courtesy visit to Gujarat Chief Minister Anandiben Patel at Gandhinagar and held discussion with her on increasing bilateral cooperation, an official press release said.

During the meet, Patel invited Denmark to participate in projects across various sectors such as wind energy, smart city, food processing and generation of electricity from waste.

Since the Scandinavian country has expertise in urban development, she urged the envoy to share their knowledge in the field with Gujarat, where the Centre has identified six cities to make them smart, the release said.

Patel also sought Denmarks cooperation in building partnership with Gujarat Government to upgrade health infrastructure in rural areas, especially for screening of women for breast and cervical cancer.

Responding positively to her appeal, Peter expressed eagerness to develop partnerships with Gujarat in various sectors, it added.

Fitch Affirms Various Ratings for Leon County School Board, FL; Outlook Stable

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed the ratings on the following Leon County
School Board (the school board), Florida bonds:

–$14.4 million certificates of participation (COPs), series 2005
refunding at AA;

–$45.5 million COPs, series 2006 at AA;

–Implied general obligation (GO) at AA+.

In addition, Fitch affirms the following ratings for the Leon County
School District (the district) issued on behalf of the school board:

–$68.3 million sales tax revenue bonds, series 2014 at AA.

The Rating Outlook is Stable.

SECURITY

The sales tax bonds are payable from the proceeds of a voted
discretionary half cent sales surtax collected within the county.

The COPs are payable from lease rental payments made by the school
board, subject to annual appropriation, pursuant to a master lease
purchase agreement. The school board must appropriate funds for all
outstanding leases under the master lease on an all or none basis. An
event of non-appropriation would result in the surrender to the trustee
of all lease-purchased projects (three new schools, five additions plus
portions of numerous other schools) under the master lease.

KEY RATING DRIVERS

SUPERIOR CREDIT RATING OF THE DISTRICT: The AA+ implied GO rating of
the school board is based on strong financial management, modest debt
load and stable underlying economy. The school boards retirement
obligations are not considered to be a rating pressure.

SOLID FINANCIAL FLEXIBILITY: District management consistently uses
conservative fiscal practices in order to preserve financial flexibility
as evidenced by solid fund balances and strong liquidity. Carrying costs
including debt service, pension, and other post-employment obligations
(OPEB) are modest.

STABLE LOCAL ECONOMY: The district includes the state capital and
several major universities, lending significant stability to the local
economy. The economy continues to rebound from the recent slowdown
evidenced by employment and housing value growth.

STRONG BOND COVERAGE: Sales tax receipts have grown consistently over
the past five years, raising debt service coverage on maximum annual
debt service (MADS) to a solid 2.7x based on fiscal 2015 collections.

ONE NOTCH DIFFERENTIAL ON COPS: The COPs are rated one notch below the
implied GO, reflective of the strength of the master lease structure
offset by the required appropriation of COPs payments by the district.

RATING SENSITIVITIES

CONTINUED FINANCIAL STRENGTH: The implied GO and COPs ratings are
sensitive to shifts in fundamental credit characteristics including the
school boards strong financial management practices.

SALES TAX RATING: The rating on the sales tax bonds is sensitive to
major shifts in pledged sales tax revenue or sizeable additional
leveraging. The Stable Outlook reflects Fitchs expectation that such
shifts are highly unlikely.

CREDIT PROFILE

The district is coterminous with Leon County, located in the
northwestern part of Florida. The county is home to Tallahassee, the
state capital. The school board consists of 44 schools with 33,683
students as of fiscal 2016. Enrollment declined slightly between fiscals
2008 and 2010 but has since been slowly but steadily expanding. The
school board employs 4,515 employees, of which 2,389 are teachers.

STATE CAPITAL; HIGHER EDUCATION LEND STABILITY

The district is located in the Florida Panhandle and is home to the
state capital complex in Tallahassee and three institutions of higher
education: Florida State University, Florida Agricultural amp; Mechanical
University and Tallahassee Community College. The significant public
sector and higher education presence provides stability to the regional
economy.

Leon Countys (county) unemployment rate of 5.2% in August 2015 was
equivalent to both the state and national rates of 5.1% and 5.4%,
respectively. The countys job losses during the recession were minor
compared with many Florida counties so the recovery has been somewhat
muted. The local housing market also suffered from the recession with
prices falling about 24% from mid-2007 through mid-2012. However,
housing values have since been on the rise, according to Zillow.com and
as of November 2015 were up 1.6% year over year.

Taxable value trends are mildly reflective of the housing market. The
tax base declined steadily from fiscal 2009 through fiscal 2013 although
the aggregate magnitude of the drop at 8.7% is modest compared with same
period tax base trends of most Florida localities. However, since fiscal
2013, taxable values have experienced three consecutive years of
expansion totaling 8.9%. Officials are projecting modest increases
through fiscal 2019. Wealth levels are even with those of the state but
below the national benchmarks, reflective of the dominance of government
employment and a large student population. Since 2009, county median
household income growth rates have exceeded those of both the state and
nation.

SOUND FISCAL MANAGEMENT

School board management continues to demonstrate sound fiscal practices.
Officials built up reserves in fiscals 2010 and 2011 through the levy of
a 0.25 mill critical needs tax generating $4 million annually and
banking one-time education jobs monies of $6.7 million in anticipation
of the expiration of stimulus funds in 2012. The critical needs levy was
not renewed in 2012.

The reserve build-up in fiscals 2010 and 2011 nearly doubled general
fund balances from $26 million in fiscal 2009 to $50 million in fiscal
2011. With the cessation of the federal stimulus in fiscal 2012, the
district has utilized some fund balance in fiscals 2013 and 2014,
reporting general fund operating deficits of $4.4 million and $7.4
million, respectively. Despite the deficits, reserves remain solid with
fiscal 2014 unrestricted general fund balance of $30 million
representing 11.8% of spending.

The school board budgets are conservatively drawn with large projected
drawdowns of reserves. Actual results typically outperform budget as
total spending coming in at 80% to 90% of budget. The school board
budgeted a $25 million general fund drawdown for fiscal 2015, which
would have left reserves below the school boards minimum of 5% of
spending. A $2.4 million increase in spending was driven in part by
higher health insurance costs and additional support for four of the
districts lowest performing schools. Unaudited fiscal 2015 results show
a $1.4 million drawdown representing .5% of general fund expenditures.
Actual spending of $258 million was 10% below the revised budget.
Despite the drawdown, unrestricted fund balance increased by $1.7
million to $31.7 million or 12.4% of spending while restricted reserves
declined by $3 million.

The fiscal 2016 general fund budget represents a 2.7% increase over the
fiscal 2015 budget. The upturn in costs includes a $1 million rise in
health insurance premiums and $4.5 million for the second half of an
8.2% teacher salary and benefit increase implemented initially in fiscal
2015. Much of the offsetting growth in funding was due to an increase of
$6.8 million or 4.4% in state aid. Despite a budgeted $27.4 million use
of fund balance, officials are expecting a modest year-end surplus.

AFFORDABLE LONG-TERM LIABILITIES

Pension benefits are provided through the Florida Retirement System
(FRS), which covers all regular employees of the district. The district
is required to make contributions in accordance with rates established
by the Florida Legislature and has always met the annual required
contribution; contributions represent a manageable 4% of general
government expenditures. Other post-employment benefits (OPEB) are
provided by the district on a pay-go basis and the unfunded liability of
$25 million is a low 0.1% of market value.

Overall net debt is low at 1.5% of total market value and $1,292 per
capita. Amortization of district debt is average with 55% of principal
repaid within 10 years. Total carrying costs for fiscal 2015 including
debt service, pension and OPEB payments are a very affordable 10.7% of
government spending.

The school boards five year capital plan for fiscals 2016 through 2020
proposes approximately $86 million for maintenance as well as new
projects. Funding derives from the 1.5 mill capital outlay millage after
COPs debt service, state capital funds and the infrastructure sales
surtax.

GOOD CUSHION UNDER CAPITAL OUTLAY LEVY TO FUND COPS

COPs are secured by any legally available school board revenue including
excess infrastructure sales surtaxes; however, the school board has
historically used revenue from its capital outlay millage to pay lease
payments. The capital outlay levy is authorized by state law up to 1.50
mills. Florida school districts can levy up to three quarters (1.125
mills) of the 1.5 mills for COPs debt service although the full 1.50
mills levy is available for debt service on COPs issued before 2009.
About 60% of COPs debt service is attributable to pre-2009 COPs
issuance. Nevertheless, one mill of the 1.50 mill levy would be
sufficient to cover COPs debt service without taking into account
federal interest subsidies on the school boards qualified zone academy
bonds and qualified school construction bonds.

Security on the COPs is enhanced by the master lease structure in which
the school board must appropriate lease payments for all leases or risk
losing control of all of the facilities under the master lease.
Currently, three of the school boards newer schools, including a high
school, a middle school and an elementary school, five additions to
existing schools and renovations to numerous other schools are subject
to the master lease.

STRONG SALES TAX COVERAGE

The AA rating on the sales tax bonds reflects strong debt service
coverage; fiscal 2015 pledged infrastructure sales taxes covered MADS by
a hefty 2.7x. Coverage has been enhanced by strong growth in
infrastructure sales tax collections in each of the past five years,
aggregating to 19.1%. The pace of growth has picked up since fiscal 2012
and averaging 4.7% annually over the past three years.

Legal protections include a somewhat weak 1.25x coverage of MADS
although there are no immediate plans to further leverage this revenue
stream. A cash-funded debt service reserve fund is also provided.

The districts 1/2 cent infrastructure sales tax was renewed in November
2012 with a 67% approval rate for 15 years. The tax can only be applied
to capital expenditures related to school construction or for the
servicing of associated debt. The maturity date of the bonds is three
months before the expiration of the tax.

Additional information is available at www.fitchratings.com.

Fitch recently published an exposure draft of state and local government
tax-supported criteria (Exposure Draft: US Tax-Supported Rating
Criteria, dated Sept. 10, 2015). The draft includes a number of proposed
revisions to existing criteria. If applied in the proposed form, Fitch
estimates the revised criteria would result in changes to fewer than 10%
of existing tax-supported ratings. Fitch expects that final criteria
will be approved and published by Jan. 20, 2016. Once approved, the
criteria will be applied immediately to any new issue and surveillance
rating review. Fitch anticipates the criteria to be applied to all
ratings that fall under the criteria within a 12-month period from the
final approval date.

In addition to the sources of information identified in the applicable
criteria specified below, this action was informed by information from
CreditScope, IHS Global Insight, and Zillow Group.

Applicable Criteria

Exposure Draft: US Tax-Supported Rating Criteria (pub. 10 Sep 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=869942

Tax-Supported Rating Criteria (pub. 14 Aug 2012)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686015

US Local Government Tax-Supported Rating Criteria (pub. 14 Aug 2012)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685314

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=996008

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=996008

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2amp;detail=31

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