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Sunnyvale approves up-to-$50M solid-waste bonds to fund Smart Station upgrades; receives AA+ rating
Summary
Council and the Sunnyvale Financing Authority authorized issuance of solid-waste revenue bonds to finance equipment and improvements at the Smart Station. The project totals roughly $51.5 million, includes a $6 million state recycling grant, and will be financed with 20-year bonds; the financing received an AA+ rating.
The City Council and the Sunnyvale Financing Authority approved a bond issuance Tuesday to finance a major equipment replacement and upgrade project at the city's Smart Station recycling and processing facility. Council voted 5-0 to approve the city resolution authorizing up to $50 million in solid-waste revenue bonds; the Sunnyvale Financing Authority approved parallel documents in a separate vote.
"We asked for a double A plus rating from Standard and Poor's, and we received that rating last night," Finance…
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