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Budget Committee backs broad authority to refund bonds, approves debt‑policy updates
Summary
The Budget and Finance Committee recommended that the full Board approve a resolution authorizing up to $1.48 billion in general obligation refunding bond authority and initial sale not to exceed $255 million, and approved technical updates to the city's debt policy and disclosure appendix to conform with recent SEC guidance.
The San Francisco Budget and Finance Committee on Thursday recommended the Board of Supervisors approve a refunding resolution authorizing the sale of general obligation refunding bonds up to $1.48 billion and an initial series not to exceed $255 million, staff said.
Luke Brewer of the Office of Public Finance told the committee the authority would let the city refinance bonds that become callable in the coming five years and pursue immediate savings. "We are currently estimating... the gross savings to taxpayers would be…
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