Committee forwards ordinance to renew Clean Power SF credit facility authority up to $150M
The committee considered an ordinance authorizing the SFPUC general manager to enter into credit facility amendments and renewals (letters of credit, bank facilities) for Clean Power SF for up to $150 million over additional terms not exceeding 10 years; SFPUC staff said the authorization restores needed flexibility to meet CPUC and counterparty collateral requirements. The committee forwarded the ordinance with a positive recommendation.
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The Budget and Finance Committee on Jan. 24 heard from Capital Finance staff at the San Francisco Public Utilities Commission about an ordinance that would amend Ordinance 8-18 to authorize the SFPUC general manager to enter into amendments, extensions, or replacements to a bank credit facility for Clean Power SF (the city’s community choice aggregation program).
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