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Port announces $22.68 million revenue bond sale; executive director details budget, donor program and construction updates
Summary
The Port of San Francisco reported the sale of $22,680,000 in port revenue bonds and highlighted budget hearings, a donor-recognition pilot tied to the America’s Cup and ongoing Pier 27 construction work.
The Port of San Francisco announced that it sold $22,680,000 in port revenue bonds as part of its financing program, Director Moyer said at the May 28 commission meeting. “We sold, dollars 22,680,000 of port revenue bonds Series 2014,” Moyer said, noting the sale closed in two tranches — a tax-exempt Series A of $19,880,000 and a taxable Series B of $2,080,000. Staff reported a weighted true interest cost of 3.97%, which Moyer described as favorable in the current municipal market.
The sale was discussed as part of the executive director’s report, which also covered the port’s recent budget hearings before the Board of…
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