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Vallejo News
October 31, 2014 | Issue #159
Vallejo S&P Rating Increases Sign-Up for other The City of Vallejo is pleased to report that the Standard & City Poor's Credit Rating Service has raised its underlying rating on Vallejo, California Series 1999 certificates of participation (COPs) Communications to 'BB-' from 'CCC+' with a 'Stable' outlook.
The COPs represent an interest in lease payments from the City to Vallejo Public Financing Authority, subject to the City's covenants to annually budget and pay these lease payments from the City's general fund. Under the lease agreement terms, In This Issue payments are required to be made annually on the debt service dates of July 15 and January 15 until the certificates mature on Vallejo S&P Rating Increases July 15, 2029. SFDK New Dare Devils Chaos Coaster "The rating action is based on the implementation of our local General Obligation (GO) criteria released September 12, 2013, GVRD Renovations the City's full payment of debt service on the COPs, and our view Downtown Way-finding Signs of the city's currently adequate budget flexibility," said Standard & Poor's credit analyst Misty Newland. Input & Suggestions
This rating action from Standard and Poor's follows the implementation of their local GO criteria in 2013 and on-going discussions with City of Vallejo's Finance Department staff regarding the City of Vallejo's Annual Budget, Comprehensive Annual Financial Reports (CAFR), and the City's full payment of debt service on these COPS in advance of the July 15, 2014 debt service date.
Action: Upgraded Rating: BB- Outlook: Stable
Six Flags Discovery Kingdom's
New Dare Devil Chaos Coaster Downtown Six Flags Discovery Kingdom is excited to announce a new Way-finding roller coaster that will be rolling out next spring featuring new thrills guaranteed to get riders' adrenaline pumping. Signs
The Dare Devil Chaos Coaster will be a single looping coaster The Central Core that builds anticipation as riders seated back-to-back travel Restoration Corporation backwards and forwards until momentum takes them to top (CCRC) has come up with speed revolutions, only to stop upside down at 70 feet high and a new way for residents then reverse direction. and visitors to find their way around downtown. "This is a great new addition to our line-up of world class rides and attractions, and is surely to be fun for all," said Don McCoy, The new downtown way- Discovery Kingdom's president. "What appears to be a simple finding signs will combine a track is really complex and riders will have a great time bit of history while also anticipating the inversion they know is coming." directing the way to various points of interest. The Dare Devil Chaos Coaster will feature 24 seats set in true face-off fashion, with guests seated back-to-back and face-to- The blue and white signs face, 360 degree revolutions, seven stories in height and inverted will feature the City's logo, hang time with riders suspended upside down. historical photos along with a short description, plus The new ride will bring the number of roller coasters at the park to arrows pointing to the nine, along with Medusa, Roar, V2, Kong, Boomerang, Cobra, Valley Ferry Terminal, the Road Runner Express, and the new Superman Ultimate Flight. Empress Theatre, the Dare Devil Chaos Coaster is expected to open in Spring 2015. Vallejo Naval and Historical Museum, Civic Center and parking.
The first six signs will be installed on Mare Island Way and Georgia Street and will feature General Mariano Vallejo, who founded the city in 1851, the Vallejo Electric Railroad Line, which took passengers from Vallejo to Calistoga and the Saginaw, the first of more than 500 ships built at the Mare Island Naval Shipyard.
They will also feature SFDK Dare Devil Chaos Lower Georgia Street, a once colorful settlement of bars and gambling houses, the California State Capitol GVRD Tennis Courts and Dan Foley in Vallejo during 1852 through 1853 and the Parking Lot Renovations Sunol Ferry, which took passengers from Vallejo to The Amador Street and Castlewood Street tennis courts were San Francisco from 1890 to recently spruced up with a surface upgrade and are now in use. 1913.
The tennis courts were resurfaced with money from Measure K While the signs will contain and a grant by the U.S. Tennis Association (USTA). About a lot of information, people $200,000 of the Measure K tax money was allocated to the will be able to see them courts' renovation, including resurfacing, repairing drainage, clearly as they walk or drive repainting, as well as adding two junior courts and batting walls at by. The signs, meant for the Amador Street facility. The Greater Vallejo Recreation District both newcomer and local (GVRD) also restriped the Glen Cove Park courts, which are now residents alike, will be used by the Greater Vallejo Tennis Association (GVTA). made by Barber Signs and installed by Skyview The tennis courts Memorial Lawn. have not been resurfaced in nearly The CCRC designed the 20 years, and the signs and are paying to USTA had declared have them installed. Eleven the Amador Street more signs are proposed in court to be "unsafe" the project's second and in 2012, leaving the third phase. Additionally, GVTA with only the the CCRC is working with Castlewood Street site. In addition to the Measure K funds, the Caltrans to get signs USTA had also awarded a facility grant of $28,800 to the GVTA installed on Sonoma to assist in the renovation. Boulevard (Highway 29).
Additionally, GVRD recently repaved the Dan Foley Parking lot, with some reconstruction for Americans with Disabilities Act (ADA) regulations. There was also sealing that was completed in the part of the parking lot that was not resurfaced.
The cost of the renovations at the parking lot was approximately $740,000. To further upgrade the location, a request for bids was sent out to redo the landscaping medians inside the parking lots. These upgrades will include new irrigations, new plants and about 80 new trees to replace those that had been taken out for the paving project. The new landscaping should be completed around the middle of February 2015.
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