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Committee recommends $85M first series of $412M earthquake‑safety bond authorization
Summary
The Budget & Finance Committee recommended forwarding three bond measures that would authorize up to $412.3 million of earthquake‑safety general obligation bonds and seek authorization to sell an initial series not to exceed $85 million; staff outlined project lists (fire stations, public safety building, cisterns), debt assumptions and timing.
The Budget & Finance Committee on Oct. 19 voted to forward three related measures authorizing the issuance and initial sale of general obligation bonds for earthquake safety and emergency response.
Nadia Sasse of the Comptroller’s Office explained that voters authorized up to $412.3 million and the committee was being asked to permit issuance and sale of the first series not to exceed $85 million,…
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