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OCII confirms up to $130 million refunding for Mission Bay South CFD to lock in savings
Summary
The Commission on Community Investment and Infrastructure voted 3–0 (one absent) to confirm issuance of up to $130 million in special tax refunding bonds for Mission Bay South (CFD 6), aiming to convert unrated paper to investment-grade bonds and capture market-driven savings that staff estimate will materially exceed policy thresholds.
The Commission on Community Investment and Infrastructure on Nov. 7 confirmed the issuance of up to $130,000,000 in special tax refunding bonds for Community Facilities District 6 in Mission Bay South, a step staff said is intended to produce substantial debt-service savings and improve bond-market pricing.
John Daigle, OCII debt manager, told commissioners the action would refund five prior series (2005A, 2005B, 2013A,…
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