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(Continued from Page 1 ) or re institute the proposal on the basis of a $30,000 differential, in other words 98 percent of the yield rather than 96 percent of the discount rate, why obviously we’d have something to take a serious look at,” Jamieson said. "Other than that, as your advisor, I have nothing to work on.”
The Authority then found that there was a discrepancy between the time for repayment of the funds factored into the financing proposal, and the time that bills would have to be paid under the contract.
Wheat, First Securities, according » to Jamieson, had figured on a balance ' of from $470,000 to $490,000 being in the account at all times. Factored into this balance was an estimated time-table for reimbursement of funds from government allocations.
80.4%