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Committee hears presentations on proposed $628.5 million EASR bond, recommends forwarding measure with amendments
Summary
Budget analysts and city officials outlined a proposed $628.5 million earthquake safety and emergency response bond (EASR 2020) to upgrade fire, police and disaster response infrastructure; the committee recommended forwarding the resolution and accepted technical amendments to the ordinance.
Committee members on June 6 received briefing and technical details on the proposed 2020 earthquake safety and emergency response bond (EASR 2020), a general obligation bond to fund the emergency firefighting water system, fire and police facilities, a 911 call center renovation and other disaster response infrastructure.
Dan Goncher of the Budget and Legislative Analyst's Office summarized the proposal (Files 19‑0500/19‑0494), describing a $628.5 million principal amount with projected total debt service of roughly $1.08 billion over about 20 years (including approximately $451.5…
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