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PUC authorizes inaugural Power Enterprise revenue bond program; explores green bond label
Summary
The Commission authorized creation of a Power Enterprise revenue bond program and moved to submit ordinances to the Board of Supervisors, describing a first targeted sale in spring (roughly $45M–$48M) and intent to track proceeds for a possible green bond designation.
The Commission voted to authorize creation of a Power Enterprise revenue bond program and to proceed with documents and ordinances needed for a spring bond sale.
Charles Pearl, Deputy CFO and interim CFO, described the new Power Enterprise financing structure and said the first issuance would be relatively small—staff referred to a first sale in the roughly $45 million range and an authorization ceiling referenced in materials of $48 million—to fund priority power projects (about…
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