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Supervisors approve up to $3 billion in airport bond authority; members voice concern about broad delegation
Summary
The Board approved a resolution authorizing up to $3 billion in additional San Francisco International Airport revenue bonds and an ordinance to appropriate roughly $3.8 billion in bond proceeds for capital projects, drawing warnings from several supervisors who sought stronger thresholds and oversight.
The San Francisco Board of Supervisors on Jan. 28 unanimously approved a resolution to authorize up to an additional $3,000,000,000 in San Francisco International Airport (SFO) second-series revenue bond authority and an ordinance appropriating about $3,800,000,000 of bond or commercial paper proceeds for airport capital projects in fiscal year 2019-20.
Board members emphasized the scale of the authority while several voiced reservations about the breadth of the delegation to airport leadership and asked for clearer benchmarks and reporting.
Why it matters
The action grants the airport expanded borrowing authority and releases proceeds to the Airport Commission for capital improvements. Supervisors…
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