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SFPUC adopts phased water system plan, asks mayor for $1.92 billion and raises short-term borrowing cap
Summary
The San Francisco Public Utilities Commission approved a phased Water System Improvement Program variant, adopted CEQA findings with added conservation and reporting requirements, and voted to request a roughly $1.923 billion supplemental appropriation and increase the commercial paper cap from $250M to $500M.
The San Francisco Public Utilities Commission on Oct. 30 approved a phased Water System Improvement Program, adopted related California Environmental Quality Act findings and asked the mayor to seek a supplemental appropriation of about $1.923 billion to fund capital projects and financing costs.
Commissioners voted to endorse elements of a proposed wholesale water service agreement and directed staff to negotiate a new contract in substantial conformance with those elements before the existing agreement expires on June 30, 2009. The commission also voted to seek an increase in the SFPUC's commercial paper program cap from $250 million to $500 million to meet near-term cash-flow needs.
Michael Carlin,…
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