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Council authorizes publication of notice for certificates of obligation and hears utility refunding plan
Summary
City financial advisers presented a multi‑transaction financing plan that includes notice publication for up to $43.2 million in certificates of obligation and proposed utility revenue bond refinancing; council approved publication of the notice and set a timetable for bond ordinances and refundings.
City financial advisers outlined the city’s proposed financing plan for fiscal 2025, including several transactions to fund previously approved capital projects and a proposed utility‑system refinancing aimed at interest savings.
Victor Quiroga of Specialized Public Finance told the council the staff plan contemplates five transactions collectively totaling about $379.8 million. That total includes tax‑supported financing (general obligation bonds and certificates of obligation) and a $175 million utility revenue bond issuance…
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