. >> thank you, commissioner tsen. commissioner lai? >> it seems like we might issue the bond sometime in 2020, but the collection of the c.f.d. doesn't come in -- at least the bulk of it would come in until 2020, after the square footage of the bulk has been built. so in the interim, how would we pay for the bond repayments? >> so we already -- as i mentioned, under the c.f.d., there's a -- an initial assessment on the properties on -- on y.b.i., even in their unimproved status. and so we can issue debt based on the value of the -- those assessments. so this first debt issuance would be necessarily limited, so we can only issue debt as -- as those assessment values and debt levels increase. so we can do a potential debt issue in 2020. as the units on y.b.i. are completed in 2021 and 2022, we can issue substantially more debt against those properties because the assessment value has increased, and then we can also potentially at that point in time because they're now being sold and going on to the property tax rolls, we're kind of at th