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Committee approves issuance plan for Los Angeles Wastewater System revenue bonds; city projects roughly $75M in savings
Summary
The Energy and Environment Committee approved a plan on April 1 to issue Los Angeles Wastewater System revenue bonds to refinance commercial paper and refund outstanding bonds, projecting roughly $75 million in net present value savings.
The Energy and Environment Committee on April 1 approved actions to authorize issuance of Los Angeles Wastewater System revenue bonds to refinance short‑term commercial paper and refund outstanding wastewater bonds.
Derek Pearson of the City Administrative Officer’s debt management group told the committee the plan calls for senior bonds not to exceed $800 million and subordinate bonds not to exceed $900 million. The transactions are intended to refinance outstanding wastewater commercial paper, restore LA Sanitation’s commercial‑paper…
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