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"People who've seen the original Saw don't usually use that term," notes Wan.
State Court of Appeals overturned two lower-court decisions and declared unconstitutional the Legislature's imposition of a moratorium 12 months earlier on the payment by the city of its short term notes.
All auctioned term notes require collateral.
"The yuppies have insulated themselves here for the long term," notes Robert Eyler, a director at the Center for Regional Economic Analysis at Sonoma State University.
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Yale University, $100 million of taxable medium-term notes.
U.S. Bancorp also plans to sell medium-term notes.
Rates have fallen since then, especially on short-term notes.
Each spring, the state issues several billion dollars' worth of short-term notes.
To be sure, many short-term notes are trading — although at record high rates.
Short-term notes usually must be paid back within the next fiscal year, officials said.
If the county simply issued short-term notes, the interest rate would be about 2percentt, he said.
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