I want to reassure local taxpayers that their investment is making good money and we have that at a good percentage, and we're also expending money and putting it to good use, ... We are expending more than the interest that we're making back on the money - we're starting to spend a little bit more into the principal - but not very much.
The local government investment pool, in retrospect, was a good investment. We haven't spent a whole lot of the money yet, but that's because we're spending time doing the planning, trying to get all the land purchases and all that other stuff before we start spending, ... We're following the philosophy of measure twice, cut once.
It is important to stretch our dollars as far as possible, ... The sale of the bonds was very timely. We got an excellent rate of return as we structured the bonds and as we sold them. Now that we know how much we're going to need to match the state, we can look at longer-term investment that might yield even a higher percentage than the local government investment pool - still being protected so that we can begin phasing in (construction) operations.