with that, i can turn it over to kevin cohen from the san francisco international is airport to given more details on their portfolio. >> supervisor avalos: thank you for your work on this presentation. you mentioned briefly the city -- add the school district that they don't have investments who have been affected by libor, is that what you said? >> yes. in terms of the debt the 30r8 -- so they wouldn't have been affected but because they're -- all the different entities are they could potentially be impact but on the debt side of the house, no. >> supervisor avalos: very good. thank you. >> thank you. >> good afternoon, chair farrell, members of the committee, kevin cohen, assistant deputy director near capital finance at san francisco international airport. before we move into the airport portion of the presentation i wanted to take a couple of minutes to kind of give you some background on the airport's debt portfolio. the airport currently has 4.3 billion in outstanding debt of what we call airport revenue bonds where the principle and interest is solely paid by the users of the

so we have here, with me in the audience, myself, who will be giving the overview, kevin cohen from san francisco international airport, who will speak specifically to the port's portfolio, we have jay -- from the employees retirement system, craig ghetto from the retirement and craig to speak on this item as well. i will do the overview but i want to acknowledge that most of what i was going to present has already been summarized. next slide please. so what is libo. i think we clearly heard it is the london inter -- rate assumed by lending banks in london. that they could charge if they were to borrow funds from another bank. it is the most quoted rate. it is published under the auspices of the british bankers association, and it's been in place since 1998. it is an index representing the benchmark rate in the london money markets. it is the most widely used benchmark rate for -- interest rates in the world providing basis for establishing interest rates on financial products ranging from commercial loans to -- contracts. it is also considered the most critical benchmark for short-term

kevin ware's injury. cnn's medical correspondent elizabeth cohen is on the phone but we'll start with kenny klein, he is thesociate athletic director for the university of louisville. thank you for joining us tonight. mr. klein, how is kevin doing? >> kevin's still currently in the methodist hospital here in indianapolis and undergoing surgery at this time. >> yeah. >> we're showing video of the players. players from both teams who are visibly shaken, visibly upset, even crying. how does this -- were you at the game? >> i was. i was at mid-court, and it certainly was a gruesome injury, and it affected a lot of our players but while kevin was down, wanted the players, called the players over and said, you know, win the game, win the game. that was his message to the team, and they certainly took it to heart and got the task accomplished. >> it's pretty gruesome to ask, but, i mean, people in the crowd and players were saying they could hear the injury. they could hear the break. >> it was an awful thing. it's something that one of our football players went through, michael bush, very similar injury on the fo

kevin ware's injury. it was an open fracture, so elizabeth cohen is standing by. was just infection. >> exactly. if you have a bone sticking out, you want to make sure that you clean that up. and so it looks like that happened. he was taken to the hospital very quickly. and had a two hour surgery very quickly. this is such a gruesome accident as we can see on the faces. such a horrible thing to watch. but the doctors i talked to said it's quite fixable. we spoke with orthopedic surgeons not of course taking care of ware, but they have done the surgery many times. and what you do is you take a steel or titanium rod down the shin bone. that allows the bone to heal. and the next day, the patient is up on crutches. but they're up. so it really is a relatively easy injury to fix if it's the injury that we think it is. >> prognosis going ahead, i'm frankly shocked by what doctors are telling you about how quick his recovery might be. >> right. doctors we talked to said six months or so. they think he will likely be playing basketball again. and these doctors have worked