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SFPUC reports $1.4M ratepayer savings from $24M bond refunding; multiple consent items approved
Summary
Finance staff reported strong demand for $24 million of water refunding bonds that saved ratepayers about $1.4 million; the commission approved the consent calendar with several contract awards including an Oceanside digesters contract and authorized grant and MOU agreements.
San Francisco — The Public Utilities Commission on July 24 received a finance report on a recent water revenue refunding and approved routine but consequential consent calendar actions including contracts and grants.
Todd Reidstrom (finance staff) told the commission that investors had strong appetite for a $24 million water refunding transaction. He said the sale produced about $1.4 million in ratepayer savings and an average interest cost of 1.34 percent. "This was a successful sale that the average interest cost was…
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