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SFPUC approves doubling water commercial paper program to $500 million
Summary
The San Francisco Public Utilities Commission voted to authorize the general manager to expand the water enterprise commercial paper program from $250 million to $500 million to help finance Water System Improvement Program (WESIP) projects, citing lower short‑term borrowing costs versus issuing long bonds.
The San Francisco Public Utilities Commission on Oct. 27 approved authorizing the general manager to execute documents expanding the water enterprise commercial paper program from $250 million to $500 million to help fund capital needs for the Water System Improvement Program.
Todd Reistrom, Chief Financial Officer and Assistant General Manager, told commissioners the expansion is intended to support a heavy near‑term capital pipeline and take advantage of lower short‑term borrowing costs. "We've benefited and the ratepayers have benefited…
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