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Board authorizes parameters for second clean‑energy prepayment bond to secure procurement savings
Summary
Directors approved a resolution authorizing staff to execute a second clean‑energy prepaid bond transaction under certain economic and issuance limits; staff said the structure should produce multi‑million dollar annual savings without creating SDCP debt obligation.
The board on June 26 adopted Resolution 2025‑07 authorizing staff to pursue a second clean‑energy prepayment bond transaction using the California Community Choice Financing Authority conduit structure, subject to defined economic and issuance parameters.
SDCP strategic finance manager Jeb Spangler and CFO Dr. Eric Washington explained the transaction replicates the conduit prepaid model SDCP used in November 2024. Spangler said the structure uses investor bond proceeds to prepay energy deliveries and, in exchange, SDCP would buy the…
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