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(Detroit, key bankruptcy plan opponent reach deal)
(Thurston County’s bridges to undergo inspections for new weight limits)
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DETROIT (AP) -- Detroit has reached a tentative deal to pay a key creditor 26 cents on the dollar, a move that that could clear the biggest hurdle in the city's plan to reduce its debts and emerge from bankruptcy protection, it was announced Tuesday night.A joint court filing Tuesday evening said that Detroit and the bond insurer Syncora Guarantee "have reached an agreement in principle" to settle the company's $400 million claim in the nation's largest-ever municipal bankruptcy case.Syncora spokesman Steven Schlein told The Associated Press the company would get 26 percent of what it's owed.The two sides said they need two days to complete the deal and ask Judge Steven Rhodes for a postponement of the bankruptcy case trial until Friday."If this agreement is finalized within this time period as we expect, it will profoundly alter the course of the proceeding and the litigation plan of the remaining parties," the filing said.Syncora attorney James Sprayregen told the AP <a href=http://capstone.edu.sg/images/guccioutlet.onlinesalecc.php>Gucci Outlet</a>  that the postponement request was "so that we can work through certain contingencies contained in the deal, including obtaining full resolution with Bank of America, UBS and other stakeholders.""We are hopeful the deal will be finalized in the next 48 hours," Sprayregen said.In response to a question from the judge last week, another Syncora lawyer had told the judge that <a href=http://www.alportico.net/gosoc.php> true religion uk</a>  he thought Detroit could afford to pay 75 cents on the dollar.Syncora Guarantee and fellow bond insurer Financial Guaranty Insurance Co. have been leading a small group of creditors fighting the plan by state-appointed emergency manager Kevyn Orr.The Associated Press left a message Tuesday night seeking comment from Orr spokesman Bill Nowling.Most creditors, including about 30,000 retirees and city employees, have endorsed Detroit's plan to cut $12 billion in unsecured debt to about $5 billion.Syncora has strongly opposed the terms, saying that Detroit's blueprint unfairly discriminated against financial creditors. Syncora and some other creditors have pushed for the city to look into the sale of assets, including city-owned pieces in the Detroit Institute of Arts.The threat to artwork prompted the creation of the so-called Grand Bargain -- commitments from the state, major corporations, foundations and others to donate more than $800 million over 20 years meant to soften cuts to city pensions while placing pieces in the DIA into a trust and out of the reach of debtor demands.Pensioners this summer voted in favor of Orr's plan, which calls for general retirees to take a 4.5 percent pension cut and lose annual inflation adjustments. Retired police officers and firefighters would lose a portion of their annual cost-of-living raise.For decades, Detroit paid its bills by borrowing money while struggling to provide the most basic of services for residents. The city, once fueled by the massive auto industry it gave birth to, shrank from 1.8 million <a href=http://www.alportico.net/prodotti/christianlouboutin-sale.jkmsw.php>Christian Louboutin Heels</a>  people six decades ago to fewer than 700,000 now.The trial that began Sept. 2 is to help Rhodes determine whether to approve, modify or reject the city's financial reorganization plan.___Follow David N. Goodman at Copyright The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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The U.S. Department of Transportation Federal Highway Administration is requiring local governments to evaluate their bridges for new load ratings by Dec. 2017, to ensure that the structures can handle modern vehicles that are designed to haul heavier loads. Thurston County Public Works is about a third of the way through checking those weight limits on the 119 roadway bridges in its inventory, according to civil engineer Matt Unzelman.However, the county is going to hire an outside firm to do some of the inspections. The Board of <a href=http://www.alportico.net/page.php?sale=New-Gucci-Shoes>New Gucci Shoes</a>  County Commissioners voted 3-0 to hire Exeltech Consulting Inc. of Lacey to conduct that work on 10 structures, ranging from the Old Highway 101 Bridge to the Mud Bay Bridge.  Some of our more structurally complex bridges are included with these 10 bridges, Unzelman told The Olympian. We just need a different level of expertise. The ratings will determine if the county needs to add a weight limits to some of its structures, he said.County manager Cliff Moore described the work as routine, but said it s an important long-term process for the county.  Like most jurisdictions in the nation, we are trying to keep on this issue, he said. The money will come from the county s road fund, and will include the following structures. (Size and inspection information was listed in the county s 2014 Bridge Index.) &nbsp;James Road Bridge (culvert), known as J-1, which goes over an overflow channel, was built in 1985. The 25-foot-long structure was given a 98.19 sufficiency rating during an Aug. 8, 2012, inspection.  &nbsp;Littlerock Road Bridge, known as L-5, which goes over a ditch, was built in 1960. The 20-foot-long bridge was given a 49.66 rating during a Nov. 21, 2013 inspection. Crews made some emergency repairs on the bridge this spring for scour and cracking. It is just down the road and the same design as the L-4 Bridge which is undergoing a complete replacement <a href=http://www.avanttravel.com/page.php?sale=Christian-Louboutin-Boots>Christian Louboutin Boots</a>  due to structural deficiencies. &nbsp;Mud Bay Bridge, known as O-4, which goes over Mud Bay, was built in 1978. The 208-foot-long bridge was given a sufficiency rating of 77.02 during a Sept. 27, 2012 inspection. &nbsp;Old Highway 101 Bridge, known as O-3 which goes over Perry Creek, was built in 1958.The 105-foot-long bridge was given a sufficiency rating of 80.31 during a Sept. 14, 2012 inspection. &nbsp;Oyster Bay Culvert, known as OB-1, which goes over Schneider Creek, was built in 2010. The 20-foot-long bridge was given a sufficiency rating of 85.8 during a June 12, 2012, inspection.  &nbsp;Steamboat Island Bridge, known as S-7, which goes over Totten Inlet, was built in 1982. The 706-foot-long structure was given a sufficiency rating of 68.73 during a Sept. 14, 2012, inspection. &nbsp;Holmes Island Bridge, <a href=http://www.avanttravel.com/page.php?sale=Michael-Kors-Wristlet>Michael Kors Wristlet</a>  known as H-3, which goes over Long Lake and was built in 1962. The 53-foot-long bridge, and was given a sufficiency rating of 54.26 during an Aug. 7, 2013 inspection. &nbsp;Nisqually Cutoff Bridge, known as N-1, which goes over an overflow channel, was built in 1936. The 92-foot-long structure was given a 74.48 sufficiency rating during an Oct. 4, 2012 inspection.  &nbsp;Old Pacific Highway Bridge, known as O-11, which goes over the Nisqually River was built in 1998. The 320-foot long structure was given a sufficiency rating of 95.38 during a Sept. 12, 2012 inspection.  &nbsp;Reservation Road Railroad Bridge, known as R-1, goes over a railroad and was built in 1993. The 331-foot-long bridge was given a sufficiency rating of 94.49 during an Aug. 9, 2013 inspection.

Revision as of 11:16, 19 September 2014

The U.S. Department of Transportation Federal Highway Administration is requiring local governments to evaluate their bridges for new load ratings by Dec. 2017, to ensure that the structures can handle modern vehicles that are designed to haul heavier loads. Thurston County Public Works is about a third of the way through checking those weight limits on the 119 roadway bridges in its inventory, according to civil engineer Matt Unzelman.However, the county is going to hire an outside firm to do some of the inspections. The Board of <a href=http://www.alportico.net/page.php?sale=New-Gucci-Shoes>New Gucci Shoes</a> County Commissioners voted 3-0 to hire Exeltech Consulting Inc. of Lacey to conduct that work on 10 structures, ranging from the Old Highway 101 Bridge to the Mud Bay Bridge. Some of our more structurally complex bridges are included with these 10 bridges, Unzelman told The Olympian. We just need a different level of expertise. The ratings will determine if the county needs to add a weight limits to some of its structures, he said.County manager Cliff Moore described the work as routine, but said it s an important long-term process for the county. Like most jurisdictions in the nation, we are trying to keep on this issue, he said. The money will come from the county s road fund, and will include the following structures. (Size and inspection information was listed in the county s 2014 Bridge Index.)  James Road Bridge (culvert), known as J-1, which goes over an overflow channel, was built in 1985. The 25-foot-long structure was given a 98.19 sufficiency rating during an Aug. 8, 2012, inspection.  Littlerock Road Bridge, known as L-5, which goes over a ditch, was built in 1960. The 20-foot-long bridge was given a 49.66 rating during a Nov. 21, 2013 inspection. Crews made some emergency repairs on the bridge this spring for scour and cracking. It is just down the road and the same design as the L-4 Bridge which is undergoing a complete replacement <a href=http://www.avanttravel.com/page.php?sale=Christian-Louboutin-Boots>Christian Louboutin Boots</a> due to structural deficiencies.  Mud Bay Bridge, known as O-4, which goes over Mud Bay, was built in 1978. The 208-foot-long bridge was given a sufficiency rating of 77.02 during a Sept. 27, 2012 inspection.  Old Highway 101 Bridge, known as O-3 which goes over Perry Creek, was built in 1958.The 105-foot-long bridge was given a sufficiency rating of 80.31 during a Sept. 14, 2012 inspection.  Oyster Bay Culvert, known as OB-1, which goes over Schneider Creek, was built in 2010. The 20-foot-long bridge was given a sufficiency rating of 85.8 during a June 12, 2012, inspection.  Steamboat Island Bridge, known as S-7, which goes over Totten Inlet, was built in 1982. The 706-foot-long structure was given a sufficiency rating of 68.73 during a Sept. 14, 2012, inspection.  Holmes Island Bridge, <a href=http://www.avanttravel.com/page.php?sale=Michael-Kors-Wristlet>Michael Kors Wristlet</a> known as H-3, which goes over Long Lake and was built in 1962. The 53-foot-long bridge, and was given a sufficiency rating of 54.26 during an Aug. 7, 2013 inspection.  Nisqually Cutoff Bridge, known as N-1, which goes over an overflow channel, was built in 1936. The 92-foot-long structure was given a 74.48 sufficiency rating during an Oct. 4, 2012 inspection.  Old Pacific Highway Bridge, known as O-11, which goes over the Nisqually River was built in 1998. The 320-foot long structure was given a sufficiency rating of 95.38 during a Sept. 12, 2012 inspection.  Reservation Road Railroad Bridge, known as R-1, goes over a railroad and was built in 1993. The 331-foot-long bridge was given a sufficiency rating of 94.49 during an Aug. 9, 2013 inspection.

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