February 9, 2011
Sequim is a very small city with a population of about 5,500. We occasionally issue bonds for such things as sewer treatment plants, city hall, etc. While we hire bond counsel, we are often asked to give an opinion on whether or not we followed all the processes required under the law. I do not give such opinions because that's what bond counsel are paid for, but we do, as a city discuss the bonds. I am afraid these regulations are so broad that they will make bond financing too dangerous or too expensive for a small city to use. That would be costly to our taxpayers.