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OCII approves refunding and new-money Mission Bay bonds totaling up to $135 million
Summary
The Commission on Community Investment and Infrastructure, sitting as the successor agency financing authority, approved refunding and new-money tax-allocation bond authorizations for Mission Bay North and South on March 1, 2016, citing projected debt-service savings and reimbursement of recent infrastructure expenditures.
The Commission on Community Investment and Infrastructure, meeting March 1, 2016, voted to confirm a package of refunding and new-money tax-allocation bonds to support infrastructure work in Mission Bay.
Acting earlier as the successor agency's financing authority, commissioners approved financing-authority resolutions authorizing documents for four financings: refunding series in Mission Bay North and South and two new-money issuances to reimburse recently completed infrastructure. Deputy Director Grama Hoarder told the board the two refundings are intended to reduce debt service and free tax increment for other uses and that the two new-money series would provide proceeds for reimbursable infrastructure…
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