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Budget Committee approves amended refunding resolution and debt-policy updates, sends measures to full Board
Summary
The Budget & Finance Committee approved technical amendments to a $1.48 billion refunding authorization and updates to the city debt policy, forwarding Items 1–3 to the Board with positive recommendations; officials said the first sale would be up to $255 million with projected net present-value savings.
The Budget and Finance Committee voted to send to the full Board of Supervisors an amended refunding resolution and related ordinance that would authorize up to $1.48 billion in general obligation refunding bonds, with an initial series not to exceed $255 million.
Office of Public Finance staff said the authorization allows the city to refinance outstanding bond series when market conditions permit. Luke Brewer said the authority covers…
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