Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
PUC sells $429M in water refunding bonds, gains $49M NPV savings; adopts updated debt policies
Summary
The commission heard that about $429 million of water refunding bonds priced recently, producing roughly $49 million in net present‑value savings and affirming the utility's AA/AA‑ ratings. The commission also adopted updated debt management policies and approved multiple contract amendments on the consent calendar.
The commission received finance and policy items including a bond pricing report and an update to its debt management procedures.
Rich Morales, the commission’s debt manager, briefed the commission on a recent pricing of roughly $429,000,000 of water refunding bonds. Morales said the transaction generated about $49,000,000 in net present‑value savings — approximately 10.3% NPV — well above…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
