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Committee backs up to $295M in SFPUC water revenue bonds to finish WSIP
Summary
The Budget & Finance Committee on Oct. 26 recommended the Board approve up to $295 million in water revenue bonds to fund remaining Water System Improvement Program work, refinance commercial paper and finance capitalized interest; bonds would be taxable and certified as green bonds.
The San Francisco Budget & Finance Committee recommended that the full Board of Supervisors approve a resolution authorizing up to $295,000,000 in water revenue bonds for the San Francisco Public Utilities Commission’s Water System Improvement Program (WSIP).
Charles Pearl, deputy chief financial officer at the SFPUC, told the committee the bonds would be issued on a competitive basis, carry fixed rates for terms up to 30 years and — if sold at current market levels — would yield roughly a 3.6 percent interest rate. He said the…
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