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2016 Public Health & Safety bond: Zuckerberg Building 5, clinical lab, fire and homeless‑service projects advance; $14M interest earnings appropriated
Summary
Public Works program manager Joe Chin told the Citizens Bond Oversight Committee that most projects funded by the 2016 Public Health and Safety (PHS) bond are in late construction or closeout, with $14 million of interest earnings appropriated and $2.8 million held in reserve pending an arbitrage review.
San Francisco Public Works and client departments reported progress on projects financed by the 2016 Public Health and Safety (PHS) general obligation bond at the Citizens General Obligation Bond Oversight Committee meeting on Feb. 10.
Joe Chin, Public Works program manager for the 2016 Public Health and Safety Bond Program, said the bond was approved by voters for $350 million and is currently showing $364 million in available authorization because approximately $14 million of bond interest earnings have been appropriated to project budgets. Chin said, "The total bond authorization amount for PHS is currently showing as $364,000,000 because it includes approximately $14,000,000 of bond interest earnings that have been appropriated as of this fiscal year." He added that $2.8 million of those earnings has been placed on controls reserve pending an arbitrage liability review due by the end…
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