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Board approves $200 million Transbay special tax bonds; Peskin in lone dissent
Summary
Supervisors voted 9-1 to approve issuance and appropriation of $200 million in special tax bonds for Transbay infrastructure financing; Supervisor Peskin voted against the measures.
The Board of Supervisors voted 9-1 on Dec. 4 to approve the appropriation and issuance of $200 million in special tax bonds to finance the Transbay Transit Center infrastructure project.
The package included an ordinance to appropriate $200 million of special tax bonds for fiscal year 2018–19 and a companion resolution authorizing issuance and sale of the bonds for Community Facilities District No. 2014. "These two items pertain to the Transbay Transit Center project," a clerk read before the roll call.
The measures passed with a single no vote from Supervisor Peskin. Roll call: Mandelmann (aye), Peskin (no), Ronan (aye), Safaie (aye), Stephanie (aye), Tang (aye), Yi (aye), Brown (aye), Cohen (aye), Kim (aye). The clerk announced 9 ayes and 1 no with Supervisor Peskin in dissent.
Supporters said the funds are needed to advance the Transbay infrastructure program. Peskin said he dissented for reasons he outlined in committee and during prior budget deliberations.
Ending: The ordinance was passed on first reading and the resolution adopted; bond documents and sale procedures will proceed according to the approved authorization.
