Re "City fiscal insiders open up on arena talks" (Marcos Breton, Sept. 29): Bee columnist Marcus Breton says, "The city will generate $258 million by borrowing against city parking assets and issuing tax-exempt bonds." As a former investment banker specializing in public finance, I feel compelled to inform The Bee's readers that tax-exempt bonds have to be repaid. The city's source of repayment would be income from parking fees. Right now, the income from parking fees, around $9 million a year, is used by the city for important purposes. If the $9 million goes to debt repayment, it won't be there for these purposes. And how will the city make up the shortfall? I'm betting it will be taxes.
-- Alice Levine, Sacramento