yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
Cloud Expo & Virtualization 2009 East
Smarter Business Solutions Through Dynamic Infrastructure
Smarter Insights: How the CIO Becomes a Hero Again
Windows Azure
Why VDI?
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun's Incubation Platform: Helping Startups Serve the Enterprise
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
California's Largest Bank Invests in City of Compton's Future
IFS Securities negotiates note offering

COMPTON, Calif., Feb. 19, 2013 /PRNewswire/ -- Wells Capital, a division of Wells Fargo Bank, agreed today to purchase $5,000,000 in a short-term security bond offering from the City of Compton, CA, (the City), in a tax revenue anticipation note (TRAN) negotiated by IFS Securities (IFS).

IFS Securities, the City's investment banker, had several buyers interested in the City's note offering. "The city manager's recovery plan and the positive action taken since his arrival last August was a key factor in obtaining the order for the whole note issue from Wells Capital," explained Craig Walker, IFS Securities vice president, public finance. "By utilizing a lockbox structure of revenues which is a first for Los Angeles County we were able to provide security to Wells Capital and flexibility for the City," he added.

The City of Compton's finance team for the offering included IFS, underwriter; Comer Capital Group, LLC, financial advisor; Peck Shaffer & Williams, LLP, bond counsel; Sevfarth Shaw, LLC, special counsel; and US Bank, trustee.

"After an extensive review of the City of Compton's finances, it's great to have one of the largest banks in California validate Compton's credit worthiness, especially in light of the financial rumors the City had to address in 2012," City Manager G. Harold Duffey, said.  This is the stated opinion of Duffey as the bank has not expressed a public opinion.

Duffey acknowledged that the TRAN was possible only with the support of the Los Angeles Board of Supervisors and Los Angeles County's Administrator and Auditor Controller. The County agreed to establish a "lockbox system" in which proceeds that would normally be distributed to Compton would be held in trust and paid directly to Wells Fargo. This process, the first of its kind in Los Angeles County, reduces the creditors risk and allows the City to receive an advance on its tax allocations.

Last summer the City had to fend off speculation that it would file bankruptcy by September. "It's February 2013 and we are still in business," Duffey added.  The City, like most cities in California, depends on sales and property taxes that flow from the state or county government and those distributions are cyclical. However, expenses occur on a monthly basis, which sometimes lead to cash flow issues.  "Cities usually address cash flow needs by issuing short-term internal borrowing from other funds," reported Brandon Comer, Comer Capital Group, the City's Financial Advisor.

"I think we are moving the City in the right direction," Duffey said. The City hired a new auditor to resolve issues from the unsigned 2010/11 audit. CalPERS dropped its lawsuit against the City and the City is in good standing with its retirement accounts. It's also important to note that this debt will be repaid by June 28, 2013, with remaining 2012/13 property and sales tax allocations.

"IFS is pleased to have served the City and assist in their entry into the capital markets. Institutional credit access is a key component for cities and counties to manage their finances properly.  By assisting Compton on their first TRAN we feel proud to have made that capital market access possible with such a high quality institution as Wells Capital," commented IFS Securities President Alex McKenzie.

About IFS Securities

IFS Securities, Inc., is a full-service independent broker-dealer who understands retail and wholesale advisory networks as well as global capital markets.  Based in Atlanta, GA, IFS Securities has 32 offices in 17 states and Puerto Rico and is a member of FINRA, MSRB and SIPC.  For more information about IFS Securities, visit the website at or call 678-690-8523.

SOURCE IFS Securities

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Cloud Developer Stories
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a gre...
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key them...
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutte...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to p...
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizatio...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)!

Advertise on this site! Contact advertising(at)! 201 802-3021

SYS-CON Featured Whitepapers