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Caltrain partner seeks bonds and credit increases to fund electrification and property purchases; committee recommends approval
Summary
The committee recommended approval for a financing plan from the Peninsula Corridor Joint Powers Board to refund farebox revenue bonds, issue new fixed‑rate bonds (up to $62M), increase a credit facility to $170M and create a new $30M facility to fund electrification, real property acquisition and Positive Train Control shortfalls.
Derek Hansel, chief financial officer for the Peninsula Corridor Joint Powers Board (JPB), told the Budget and Finance Committee the agency is seeking San Francisco approval for a multi‑part financing plan to support Caltrain electrification and related needs.
Hansel said the JPB proposes issuing new fixed‑rate farebox revenue bonds (not to exceed $62 million…
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