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SFPUC authorizes $1.12 billion in water revenue bonds to fund WESIP
Summary
The San Francisco Public Utilities Commission authorized issuing up to $1.12 billion in water revenue bonds under Proposition A and directed staff to seek additional Proposition E authority to fund the Water System Improvement Program (WESIP); staff outlined planned bond sales, uses of proceeds and tax‑exempt/taxable allocations.
The San Francisco Public Utilities Commission on June 23 approved authorization to issue up to $1.12 billion in water revenue bonds under Proposition A and directed the general manager to pursue related Proposition E ordinance steps at the Board of Supervisors to fund the Water System Improvement Program (WESIP).
Todd Wiestrom, chief financial officer and assistant general manager for business services, told commissioners the plan calls for two sales in late summer to meet encumbrance needs and to fund near‑term cash requirements. "We're targeting August and September particularly to meet our…
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