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Sunnyvale approves $36 million certificates of obligation after strong investor demand
Summary
The Sunnyvale Town Council on Sept. 15 approved an ordinance authorizing the issuance and sale of $36 million in combination tax and revenue certificates of obligation. Presenters said the certificates sold at a premium and produced an all‑in true interest cost near 4.36%; the closing is scheduled for Oct. 15.
Sunnyvale’s Town Council voted unanimously on Sept. 15 to authorize the sale of combination tax and revenue certificates of obligation series 2025 that will fund a package of utilities, parks and facilities projects.
Council approved Ordinance 2025‑17 by voice vote, 7‑0. Presenters told the council that investor demand allowed the town to sell the certificates at a premium so the par amount the town will repay was reduced to $33,810,000; that principal plus the premium will provide the town…
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