class will paying for the green products they're getting and it might be a nice thing to segue to mr. perle. >> thank you very much. good afternoon. once the independent rate study is completed, what staff does this takes the information and compares it to information, industry trends, that kind of thing. this develops a rate proposal for this commission. there is a residential side and the commercial side that i will look at. we work on this project to make sure that the policy priorities were taken into account. what you will see on the next couple of slides provide high- quality services promoting and green sustainable city and expanding our to occasions as well as investing in our community. looking at the policy initiatives and focusing on our sustainability, resources conservation, asset management, the investments, looking at the redevelopment which is pertinent to the retail rate as well as work force development, we wanted to make sure that all of these things were on the table. on the retail side on the reach of residential side, the goalie had was wanted to make sure what we are

we successfully had a program run by mr. perle and his staff. the bidders love our bonds because they not only secret information like we have shared with you before, they see our quarterly budget statements. they also see our website that mr. harrington walked through. those materials show the up to date -- up-to-date water and power generation. investors like to see that level of transparency, including these two bids. but the tax exemptions, you have five bidders. citigroup was the winning bid. whenever selling bonds competitively, the bidder has to buy everything or nothing. it goes to the lower bidder and the best deal for the rate payer. jpmorgan we also visited with earlier this morning. they have been very aggressive in bidding. they bought over $1 billion of our bonds over the next -- over the last 18 months. this was the most savings for the repairs, coming in at 4.5% annual true interest rate. the calendar for the water bond -- i mentioned we have sold $2.70 billion to date. what this means just on wsip, the water system improvement pr

richard perle, knowing exactly where to stick in the knife, mr. president, it will destroy fbi. as a result he said they can't make the deal. as gorbachev realized at the end of the summit and as he said that the press conference, this was not a failure. we agreed to eliminate a whole class of nuclear-weapons, medium-range missiles in europe, and this is the beginning of something that will continue. said gorbachev brought security to the table. reagan brought fbi. sadly not quite as much as the might have been. however, the people who are in government on our side have said to me with the bullets, if you think president reagan or president gore detective of gorbachev could have gone back to their staff from with the deal like that, anywhere with that at all, you are crazy. so there was a vested interest on both sides. we certainly would have thought any such agreement. therefore, who knows. it did not quite happened, but it certainly makes interesting theater. >> ladies and gentlemen, let's give a big round. [applause] >> thank you. >> richard rhodes is the author of over 20 bo