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SFUSD board authorizes $180 million Prop A bond sale and $100 million refunding to lower costs
Summary
The San Francisco Unified School District board voted to issue up to $180 million of the 2016 Proposition A bond and to authorize up to $100 million in refunding bonds, after staff presented an annual bond audit showing no findings for the 11th consecutive year.
The San Francisco Unified School District board on Feb. 14 authorized the first series of its 2016 Proposition A facilities bond and approved a separate plan to refund outstanding debt, moves district staff said will fund ongoing school modernizations and take advantage of favorable interest rates.
Chief Facilities Officer David Golden told the board that the district seeks authorization to issue up to $180 million as part of the $744 million Prop A program and to approve a refunding of general obligation bonds not to exceed $100 million. Golden said the refunding is intended to “pay off the bonds faster…
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