Uh, you know, things like that.

That, that's true.

But I, but I would say more that they're hiding the ball, even from elected officials.

Now, what, but what goes on in Austin is because we have basically uni-party control-

Mm

... they're on the same team.

So the bureaucrat's wasting your money are on the same team as the partisan political party who controls all the offices.

So they're all happy.

What you just mentioned is

a classic case of the elected council members, simply parroting and repeating what they've been told by city staff.

They have no idea where that money's going.

Now, some of the money in these COs, it's not trivial to figure this out because some of the certificates of obligation can be used to pay off, right, to buy back older COs and maybe refinance them at a lower interest rate.

So there's all kinds of stuff going on here that the council members really know nothing about because the city staff simply doesn't inform them.

And if you were to go in, you know, city council members, you can – Ask the city.

We could ask them about certificates of obligation, right? And what they would do is they would answer your question very, very, very narrowly to not give you the full picture.

Don, do we know how Austin stacks up compared to other Texas cities in issuing these certificates of obligation, borrowing money without voter approval?