the assumption is that we also build up reserves. we talked a little bit about those reserves. that is on slide 24. what we do know is that we would need a program reserves of $3.50 million. that is the blue bar on this chart. that would need to be on deposit with the findings of the contract with shel north america. we would need to have operating reserves. we estimate upwards of $1.50 million would be needed on may 30 or $40 million annual budget. we need $1,000,000.5$1.5 millio. that accounts for rate stability's. we're assuming we have a successful program. we are assuming customers will participate. the market survey we have done shows that want to participate. the reserve would into overtime and would be able to put this in a deposition to invest that into owned grenoble's or when we renewed -- to get the most advantageous terms for our customers at that time. the items that is not down here -- on here is a performance bond. that would be another bar that we could add to the reserves. >> the rate stabilization reserve, one of the questions i had, given that we are buying

given that we had actually put this reserve on budget and finance committee reserve, it would be best to bring back those items that we are reserving and continue to reserve at a later time when we have the benefit of the completed eir. i would like to make a motion to release $9.4 million of the requested $17.9 million and leave the remaining on budget and finance committee reserve. if we do not have any further comments on this, can we take that motion without objection? ok, thank you. next item, please. >> item four, ordinance amending the san francisco administrative code to create a recreation and parks gift fund, update the mayor's earthquake emergency relief fund to broaden its purpose is the general disaster recovery fund, and amend the mayors' fund for the homeless to change the administering agency. supervisor chu: thank you. i believe we have a number of representatives. we have monique some of the common will be providing a presentation. we also have representatives from the tax collector's office. >> good morning. yes eliminate from the controller's office. the treasured

often the poachers have better equipment than the reserve personnel. overrules a month or two poachers carry weapons their boats have powerful engines and most of the work and on top of the lawyers provide legal protection or your own likely to find any eyewitnesses here a ranger would have to work very hard before the offender could be brought to trial which you wouldn't performance. as soon as the expedition ship leaves plus the station a family of humpback whales appears the captain still is the vessel along the shore as the researches take stock of the best inhabiting the kuoni and in civil war i can see a female bear down there and a little cub is nearby. when the bears a spotted their exact location will be mocked on the map while the researches conduct their work the ship moves to the slow speed. but would evening the captain steps on the gas as they head for the ski islands it's crucial that the ship reached its destination while the weather is still good. from our hero. we hear it because. god promised them this the land belongs to. will if th

the swiftest way of getting to any part of the reserve in an emergency is by helicopter. when a fire flares up the helicopters will have to make dozens of trips a day but even that does little to help. the tiger may remain a blaze to weeks. sometimes far as come to such a large area that fall in the from all over the region come to help quick controlling five is especially difficult in coniferous forests it takes many years to recover from such a blaze floods are just as dangerous as far as in early spring transporting fuel and basic necessities to preserve stuff isn't. extreme and often a life threatening task which is working. on one occasion snowmobiles broke down and we had to walk scores of kilometers such incidents would have made many others quit this job but something keeps us going i think it gives us adrenaline i'm happy it's part of my life. it's a challenge that keeps you in good shape. the following morning the weather changes abruptly it is clear from the four coss that the rain will keep coming down for almost a week we all are followed just decide against

nature reserve the environment is very harsh. accompanies the group of researches at this stage of the expedition with a service record of more than twenty years is one of the reserves for veterans so again began his career as a rank and file employee now he is in charge of the ranges guarding the reserves maritime sector they are on duty for about a month at a time the rangers are a self-sufficient community. apart from guarding the territory they keep records of the natural environment was the situation no money nothing to speak of little significant no intruders apart from some little animals. and what about the stellar sea eagles a couple who come from there cheering low tide you'll see them. low tide doesn't come until several hours later at that time a mountain stream flowing into the sea of a halt can be crossed normally the title current is so strong that it is impossible to keep one's balance the water is all year round and falling in would be dangerous there are no signs of life in the eagle's nest its owner is away hun

the boat is going to a far corner of the reserve of. just expect to see chicks that they believe hatched in an eagle's nest a few days ago. the engine noise. upon seeing the new arrivals he backs away and swiftly disappears into the forest the group has no worries as really attacked people during the summer. a telescope is the most important item in the expeditions inventory by attaching a video camera the only. see what's going on in the eagle's nest even though it only takes a few minutes to get to the nest when it actually comes to climbing the tree preparations take a. stellar sea eagles nest above the ground the people can are you sure giving a delicate girl that much to carry is a good idea. elsie ashford is the first woman to ever climb a tree in the megaton ski resort of in the past you know we take always employed the help of the men in the group. yes. elsie is a research at the royal society for the protection of in scotland but nests have been her line of work the several years she has brought all the necessary equipment from

the gentleman from minnesota continues to reserve. mr. kline: i reserve. the speaker pro tempore: the gentleman from new jersey. mr. andrews: i believe you just said we have 2 1/2 minutes left on our side? the speaker pro tempore: that is correct. andrew andrews our plan would be -- mr. andrews: our plan would be we would rest and the chairman would proceed. i ask unanimous consent to enter in the record the statement from the law professors referenced earlier. the speaker pro tempore: without objection. mr. andrews: thank you, mr. speaker. i yield myself the balance of our time. the speaker pro tempore: the gentleman is recognized. mr. andrews: mr. speaker, one listens to the back and forth on this debate, there's a lot of different points and i'm sure some confusion that flows from that. but the debate's really pretty simple and it's about one question. if a group of people working at a business in this country choose to try to organize a union and bargain collectively for their wages and their working conditions and the employer is discomforted by that,

president vietor: how is the reserve account funded? >> the reserve account will be funded from customers, part of the rate. i will leave the rate and finance questions for mr. r ydstrom, if i may. through our conversations with shell and doing market research, what we have brought back and spoken to you about in the past, we really could be offering renewable power on day one. in terms of the rate premium, it is not so significant for customer preferences. we are heading that direction. >> how does that work? -- president vietor: how does that work? does it involve the grid? how do we know that that is 100% renewable? >> at least for me, when i was a physics major, energy was the most difficult, and water was a lot easier. just like when you have multiple rivers flowing into a central river, you do not know how much which glass of water or wherever it came from, but you know how much is coming in. but the same token, the amounts of energy coming from the system needs to be balanced, and there is a very strict accounting by an independe

2 miles away from the reservation. in the most recent homeless count, there was also stated that reflected the lack of tokens. some people are not provided the token at the time of the reservation. 27.5% stated that they sometimes receive tokens while only 12.3% stated that they were providing one at the time of reservation. >> can you talk a little bit about why that is? did you say access to tokens? that implies that maybe they are in sight but for whatever reasons staff cannot -- >> absolutely. that is one issue that the shelters to report that when we are actually there, the supervisor does not have access to the tokens which means that they don't have access to the tokens for the client during that time. that is definitely one of the reasons. the other reason is the lack of tokens. we have 1154 beds. i believe that hsa receives 1200. the ratio is just not there. if every client was to -- that would mean that every client would have a token. that does not mean that everyone would need a token. they can get them els

as a fractional reserve as well there's nothing to stop a fractional reserve banking standard to emerge and repeating the exact same mistakes that we have currently correct yeah that's absolutely correct and even if even if they called the rules they're still at minimum leveraging the money ten to twelve times it's not what backs the money it's who controls the quantity and if you're the in sitting in the bank's driver's seat and you are controlling the quantity of the national money then by the facto you control the political situation as well because if the government needs the loans and you aren't willing to lend that money then you know you're an absolute control of the government and that's the situation we find ourselves in today is a great job if you're if you're sitting in the bank seat but it's not it's not a good deal for the average person money must serve the public interest for our twitter audience who twitter these questions to max kaiser's twitter account a couple of questions one from the i am trading the question is say ireland implemented a debt free money supply how w

and alcohol is not allowed on the reservation. but there's some crummy places in nebraska that sell it and there's all kinds of attempts to monitor it and to get it unsold -- i mean, to ban it again, but nobody seems to be able to do that. and another problem besides alcohol and meth is gangs. so there's a lot of gang activity in a number of -- on reservations, but i should say, gary, i sometimes think of native america as being in a fulcrum. all these awful things have been happening are happening, deplacement, despair, all kinds of problems. poverty is awful. there are many places that don't have running water and electricity, too. and on the other hand, some people feel like this is a renaissance, what's going on in native america today. that because of casinos, for instance, that people now are able to -- that reservations, tribal governments are able to buy new fire earnings, and buy new health services and help people. and have language immersion problems, trying to bring back the languages that were basically stripped from

and said oh you know what we just need to eliminate that nasty old reserve requirement altogether in other words three hundred thirty three to one is not sufficient for these banks only infinity will do now the problem is when you're leveraging money to that extent i once the bubble pops then you're also leveraging on the way down and. other words every one every dollars dollar that comes out of the economy is multiplied then by that multiplication factor whether it's ten twelve fifty two seventy two or three hundred thirty three so we're going through a major deal leveraging of this huge bubble and if the economy absolutely will not come back that's why you see the specter for the first time of all this money being pumped in by the fed and that not having the desired result on the economy we've reached a point for the first time in history called debt saturation the only way to get out is this monetary reform solution right you mentioned ron paul and he calls gold and silver the only constitutional recognized form of money you're saying that's not really necessarily true and it brin

we have the reserve fund you established, which allows us to use the reserve. i have established another bond reserve fund, established about four or five years ago. that is up to about $50 million in addition. we were showing the debt rating agencies. they will see a $30 million reserve. >> that leslie allocated to debt service needs as opposed to operational needs -- that would actually be allocated to debt service needs. >> basically, none of them would be allocated. it would be a backstop. director heinicke: that is what i mean. >> half of it would be a reserve fund to give comfort to the credit rating agencies. our annual debt service would be in the range of $10 million or so in the first several years. we will budget that in the operating budget and give the rating agency some comfort. director heinicke: right. i get it. that will be comfortable for rating agencies, but the broader discussion, and we can do this at the workshop and perhaps before we issue, is a $15 million or $30 million reserve is a far cry from what we had before. i realize you have be

that reserve -- that would be a minimum amount. that would be in the contract in order to avoid a default. those are the general broad overview i wanted to touch on for the term sheet. moving on to the outstanding issues, we're talking about, there is a few other things that are outstanding. one is that if you, i do not know if you recall. there is a rather esoteric part of the statute which requires a cca to post a bond capable of covering the estimated costs to the incumbent utility, pg&e, of the cost of having 100% of the enrolled cca customers returned to the utilities. in the case of a cca, all the customers go back to pg&e. it costs more to procure energy for them. cca once there to the bond amount if sufficient that they bundled customers would not bear any cost. this is something that has been litigated at the cpuc and still remains in question. >> when you say bond, marin tried to obtain a bond and nobody sold it. it is cash? >> it is hard to -- it would be some type of insurance. as a city where are thinking we might be a