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Comptroller: San Francisco's GO bond capacity remains well below charter limit amid planned issuances
Summary
Comptroller's office staff told the audit committee the city's current general-obligation (GO) bond use is about 1% of assessed valuation (below the 3% charter cap), described voter-authorized bond authorizations and conservative modeling assumptions, and outlined overlapping debt exposures from schools, community college and BART.
Comptroller's office staff briefed the Government Audit and Oversight Committee on April 22 on the City and County of San Francisco's debt portfolio and the assumptions in the 10-year capital plan, concluding the city currently uses about 1% of its GO bond capacity and maintains substantial remaining authorization under the local 3% charter limit.
"In fact, as of today, our capacity is just 1%," said Nadia Sisay of the Comptroller's Office of Public Finance. Sisay explained that state law allows GO bonding up to 5% of assessed value while the local…
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