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SFPUC approves $150 million wastewater commercial-paper liquidity facility
Summary
The commission authorized the general manager to enter a liquidity agreement under 2002 Proposition E to support a $150 million wastewater commercial-paper program, renewing an expiring bank backstop and continuing short-term borrowing capacity for sewer ratepayers.
The San Francisco Public Utilities Commission on Jan. 24 voted to authorize the general manager to enter a liquidity facility for the Wastewater Enterprise commercial-paper program with JPMorgan and U.S. Bank.
Todd Reitstrom, assistant general manager and CFO, told the commission the action renews a standard backstop arrangement…
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