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SFPUC authorizes up to $621 million in wastewater bonds to fund SSIP work
Summary
The Commission approved a resolution authorizing issuance of up to $621 million in wastewater revenue bonds under Proposition E to refund commercial paper and provide approximately $443 million in new money for construction; staff said the issuance would raise outstanding wastewater debt to about $1.3 billion and would add roughly $8/month to wastewater rates after a two-year capitalized interest period.
The San Francisco Public Utilities Commission voted to authorize the issuance of wastewater revenue bonds not to exceed $621 million under Proposition E to fund ongoing wastewater construction and refund short-term commercial paper.
Eric Sandler, Assistant General Manager of Business Services and Chief Financial Officer, told the Commission the transaction would be sold competitively as tax-exempt, senior-lien,…
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