we have received approval from dta and from the train his.n november, we will seek approval from our board subject to the final approval from san francisco. then we will meet with the rating agencies, poster offerings and to be able to close this process in december. i am available for any questions to be one thank you. any questions, supervisors? question about the objectives of the financing. >> yes, ma'am,. >> supervisor cohen: can you go in more detail about the refund of all the existing fair revenue bonds instead of just desk -- debt service savings? >> the 2,007 bonds are currently refundable. that is one where we can immediately achieve cost savings the most common way to evaluate refinancing savings for tax-exempt debt is to look at the net present value savings of that refunding. we are looking at savings while in excess of $3 million. >> supervisor cohen: what do you plan to do with the savings? >> it will reduce the debt service. what will happen is it will reduce the operating costs of the agency. we are not planning on popping o