senior management, dluiing general manager kelly and deputy general manager carlin and former cfo readstrom, they have been in communication with the state in looking at what the state revolving fund loans and we are in the process of executing agreements and we would like your authorization to expand your existing authorizations to include these loans. so this is not new authorization, this is essentially re-upping the authorization you approved a year ago to add the loans to that authorization. what you have attached is an ordinance that we'll submit to the board of supervisors. again it's not new authorization, we're just revising the already-existing authorization to include these loans. so i just wanted to first for the record say what this is all about and i'm happy to walk you through the program if you would like me to do that. >> commissioners, would you like to --. >> i don't think we need to -- at least i don't need to go through the program. the debt that you are talking about is state money and how does the interest rate compare to what we are able to get on the open market? >>