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SFUSD authorizes $75M short-term notes and $150M Proposition A bond series B
Summary
The San Francisco Unified School District board authorized up to $75 million in short-term tax and revenue anticipation notes and approved preliminary steps for up to $150 million in Proposition A general obligation bonds to support cash flow and school modernization. Board members discussed timing, repayment and remaining voter authorization.
The San Francisco Unified School District Board of Education on Sept. 23 authorized the district to issue up to $75 million in tax and revenue anticipation notes (TRANs) and approved actions to prepare a $150 million Proposition A general obligation bond series B.
Board leaders and district finance staff said the TRANs are a short-term borrowing instrument used each year to smooth cash flow until property-tax and state apportionment receipts arrive. "This transaction is…
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