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The financial market has seen its share of ups and downs and still continues to be unpredictable. The dip on Wall Street recently has left America wondering if things will ever get better and has affected people across the nation; and Los Alamos is no exception. Los Alamos County's Chief Financial Officer, Steven Lynne was in council chambers on Sept. 23 to discuss the pending bond sale that the county was planning on having. At that meeting, Lynne and the county councilors discussed whether or not the sale should be held, or whether it should be postponed. It was decided that the sale should be held and was done so on Sept. 30, with great success.
Lynne was back in council chambers on Oct. 2 for the special session, where he sought approval from council on the bond purchase agreement. After a vote, council passed the motion 6-0.
According to county documents, council approved Bond Ordinance 529 on Sept. 12, 2006, which states that council adopted Ordinance No. 529 and directed staff to return to council for approval of the expected sale term and approval of an undated CIP with specifics before any bond sale. After that action, voters approved the ordinance at a special election held on Jan. 30, 2007.
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