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Audit committee forwards plan to distribute preliminary official statement for San Francisco GO refunding bonds
Summary
The Government Audit and Oversight Committee voted to forward to the full board a resolution authorizing distribution of a preliminary official statement for City and County of San Francisco general obligation refunding bonds; staff said updated data would allow about $17,000,000 in aggregate savings and noted remaining issuance capacity, while a public commenter urged an audit of San Francisco General Hospital before a planned hospital bond vote.
The Government Audit and Oversight Committee on the morning of the meeting moved to send to the full Board a resolution authorizing distribution of a preliminary official statement for the City and County of San Franciscogeneral obligation refunding bonds.
The item was introduced by Mr. Sain, who said the city previously authorized refunding issuances in February 2004 for "about 800,000,000," and that subsequent issuances have followed. "This would allow us to achieve 17,000,000 in savings in aggregate," he said, adding staff…
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