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Committee approves moving SFMTA revenue‑bond authorization and appropriation to the Board after CEQA wording fix
Summary
The Budget and Finance Committee advanced two SFMTA items: a $287 million appropriation of bond proceeds and authorization to issue up to $300 million of revenue bonds to fund capital needs (LRV purchases, 1200 15th St facility, parking‑meter replacement) and provide operating budget flexibility; the committee approved a minor CEQA wording amendment to clarify planning’s determination.
The Budget and Finance Committee on Jan. 27 recommended that the Board approve SFMTA’s request to issue up to $300 million in revenue bonds and appropriate $287 million in proceeds for capital projects. Agency staff said the proposal is timed to take advantage of historically low interest rates and to help close capital and operating shortfalls caused by pandemic‑related revenue losses.
SFMTA explaine…
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