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SFPUC authorizes up to $692 million in water revenue bonds to fund WESIP
Summary
The San Francisco Public Utilities Commission authorized issuance of up to $692 million in new water revenue bonds to fund the Water System Improvement Program and related settlement costs, with staff projecting a late‑May sale and mid‑June closing to meet capital needs.
The San Francisco Public Utilities Commission on the night of the special meeting authorized the issuance of up to $692 million in new water revenue bonds to finance the Water System Improvement Program (WESIP) and to reimburse settlement costs.
Todd Reitstrom, assistant general manager and chief financial officer, told commissioners the authorization would likely be split into three subseries and that staff is targeting a competitive sale in late May with a closing in June to meet mid‑June cash requirements. "Every week, between $5,000,000 and $35,000,000 is being spent for the important capital investments," Reitstrom said, underscoring the…
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