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SFPUC sells $702 million in water bonds, CFO says ratepayers will see long-term savings
Summary
The San Francisco Public Utilities Commission approved routine items and heard a quarterly budget report and same‑day $702 million water revenue bond sale; staff said the low rate will lock roughly $130 million in long-term savings for ratepayers.
Todd Reistrom, assistant general manager and chief financial officer, told the Public Utilities Commission on May 22 that the SFPUC sold $702,000,000 of water revenue bonds that morning at an average borrowing rate of about 4.27 percent, which staff said will “lock in place as of this morning about a $130,000,000 of savings for the rate payers” that will average roughly $4,000,000 a…
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