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Committee forwards authorization to issue up to $644.7 million in refunding bonds
Summary
City staff told the committee the Office of Public Finance seeks authorization to issue up to $644,675,000 of general‑obligation refunding bonds (Series 2024 R1) to refund eligible maturities; the Board will only proceed if the transaction meets a minimum 3% net present value savings threshold.
The Budget and Finance Committee voted March 6 to forward to the full Board a resolution authorizing the issuance and sale of general obligation refunding bonds, Series 2024 R1, not to exceed $644,675,000, and an accompanying ordinance to appropriate the proceeds and place the amounts on Controller's reserve.
Vishal…
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