the calaveras dam is a problem. it is one that is taking up a lot of our concern. the other item, we had a bond sale this morning. >> good afternoon. the good news does continue on the financial side of things. borrowing money is still very cheap because there is a lot of maturity. the city sold geo-bonds. seismic upgrade to the general city facilities. we achieved a 2.7% rate for a 20-year bond. 38.4 million was sold this morning in addition to $252 million for san francisco general hospital. just short of a million dollars a year would be savings for taxpayers for the auxiliary water supply system. it is very big news and a continuation of what you have heard recently. happy to answer any questions. >> this will have an impact on the rate issue? >> this is the one unique part of the capital plan portfolio that is covered by the property tax bill. voters put it on the property tax bill as opposed to the water bill. >> we will have a comparable study to see where there have been some incidental or other savings by implication? >> this one will show up by allowing th

i have reported in the past month some unexpected conditions at the calaveras dam project. ogic features were observed. our team of engineers and geologists are continuing to pursue additional exploration to better characterize the nature and impact of these features. unfortunately, it appears that the latest findings show the impact from the project will actually be more significant than we first anticipated. we learned last week that the permanent will have to be modified. it would require the removal and disposal of a lot of additional material. furthermore, we also discovered a new deal logic feature that is not in our contract document between observation hill and hill 1000. we have been hesitant to speculate on the exact cost and scheduling tax because we are still conducting additional investigation and those will not be completed for another three- four weeks. given what we learned last week, and given the significance of what is ahead of us, we thought it was important to inform you and give you a better idea of the impacts your looking at it. on the cost side, the

the calaveras dam, we are building a dam costing about $400 million. we have also put micro set-asides. we do jock. we are in the midst of starting a construction assistance center. the placement, we have been talking about different locations, but the concept is really to work with the depends so break contracts down and look at the capacity of the l.b.e.'s and try to make a match for the work we can break down. so we are going to offer a lot of courses there. in fact, one of the things that we started doing on our contracts is we start including professional services community benefits. we are asking consultants what can you do in the work that you perform for the p.u.c. to benefit the communities which we are impacting? we are trying it, and we are going some interesting results. a lot of firms are saying we will volunteer time and training, and some will say we will adopt the school. we are trying to incorporate that to help leverage all the work we are coming to build better communities. there is a lot of stuff going on. we do have hand-outs that w

the route okay. i'll show another issue. that closure for calaveras. >> 6:50. of a stabbing. a man found suffering serious wounds. right now mcclocklin is shut down. we'll keep monitoring it and bring you information if there is any more available. >> a charity is being sued for cheating them. marla tellez is in the newsroom with the accusation the operators were taking donations to line their own pockets. >> state attorney general's office is suing the group and wants threes 4.3 million returned to the charity. according to a complaint filed, the current and former president squandered millions. robert chapin is accused of inflating his salary to retire with an almost $2 million pension plan. his successor is accused of speblding 80 gland for memberships for his board. according to the website the primary mission is to provide hospitalized and homebound veterans with therapeutic arts and crafts activities. they reported more than $400 million. only 35% goes to veteran programs. attorney general harris says her investigators spent the last year building what she

the rest of the northbound routes holding steady with 101 starting to bog down approaching 87. calaverasght have reopened. >> thank you. reminder here, nbc bay area your home for all of the london olympics tonight in prime time track and field gold medal finals, the men's diving qualifying round and the bmx gold medal finals. >> you got this nickname, the flying squirrel. how did you get that? ♪ >> well, olympic history was made here in london. that was not it. matt and al's greco roman wrestling experience is just part of the fun we've had here. coming up, we'll take a look back at all the good times we've had as well as the real olympic moments that we remember from these games. try to get that image out of our minds. good morning. >> it's going to be there a while. >> i know. 7:30 on a friday morning. i'm savannah guthrie alongside matt lauer, al roker, natalie morales. >> some memorable moments in the last night when the u.s. took gold and silver with the triple jump. we'll talk to christian taylor and will claye straight ahead with their medals. >> there you go. all right, guys. ano

the accident affecting all lanes rits now. southbound 680 right around montague expressway. folks try to bail out around calaveras to 880. much better than a half hour ago. sunol, slow in commute directions as well as southbound 880. a look at the toll plaza, very light, laura. back to you. >>> good news. thank you for joining us. another local news update in about half an hour. >> the winner of "american idol" season 11 is philip phillips. >> ryan seacrest really stretches that out, doesn't he. >> that was philip phillips moment on season 11 of "american idol." now the dprngeorgia singer is g ready to release his album and he's coming live to us. >> country, acoustic guitar. >> maybe i'll bring my guitar. no, just kidding. i won't. >> love to sing along. >> i'm savannah guthrie alongside natalie morales. just ahead it's that time of year when kids have got to get back to reality. >> for many this is the last week of summer vacation. sorry, kids. some kids have actually even started school already. we're going to have helpful tips to get the kids and family back on a sleep routine. if you're trying to fit in one last trip