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Commission authorizes commercial paper increase to support SSIP and approves pipeline contracts
Summary
The commission approved increasing the wastewater commercial paper program from $500M to $750M to support SSIP contracting, described bank credit facilities and disclosure steps, and approved CEQA findings and a $15.3M construction contract for pipeline work among other capital items.
The commission approved a request to increase the wastewater commercial paper (CP) program from $500 million to $750 million to provide interim financing for SSIP capital work and larger construction contracts.
Eric Sandler, the commission’s CFO, said about $61 million of the commercial paper program has been issued to date and that the requested increase would be supported by bank credit facilities (up to $150 million with…
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