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Committee approves commercial paper authorizations for MTA and citywide program
Summary
The committee approved authorizations to establish or expand commercial paper programs: SFMTA's $100 million CP program and a citywide increase to $250 million in lease‑revenue CP certificates to finance capital projects and provide emergency liquidity, with projected first‑year fees in the low six figures and estimated interest savings versus long‑term borrowing.
The subcommittee approved two finance measures to expand the city’s short‑term borrowing capacity and to provide interim capital financing for multiple agencies.
SFMTA asked the committee to authorize a commercial paper program up to $100 million to provide interim financing for capital needs (for example, central subway, fleet procurement and…
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