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Committee advances $60.5M certificates to finance replacement Animal Care & Control facility
Summary
The committee recommended the Board consider certificates of participation (up to $60.5 million) to finance a replacement Animal Care & Control facility; staff said the financing is structured as COPs with interim commercial paper and prior capital plan amendments and appropriations in place. Public commenters praised the new shelter for disaster readiness and improved animal care.
The Budget & Finance Committee on Nov. 16 recommended forwarding a resolution authorizing certificates of participation (COPs) in an amount not to exceed $60.5 million to finance design and construction of a replacement Animal Care & Control (ACC) facility.
Jamie Corubin of the Comptroller’s Office told the committee the resolution authorizes execution and delivery of up to $60.5 million in COPs and related financing documents; the plan assumes interim use of commercial paper proceeds until COPs are executed and delivered, with certificates structured as an asset‑transfer lease…
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