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Committee approves forwarding $30M bond refinancing for Music Concourse parking to Board
Summary
Committee concurred with Controller and Office of Public Finance recommendation to permit the Music Concourse Community Partnership to issue up to $30 million in tax-exempt bonds (First Republic Bank purchaser) to refund 2005 notes for the Golden Gate Park Music Concourse parking facility; presenters said there is no fiscal impact to the City and roughly $55M could revert to the City when the ground lease terminates.
The Budget & Finance Committee advanced a resolution allowing the Music Concourse Community Partnership (MCCP) to pursue a tax-exempt revenue bond transaction of up to $30 million, to refund revenue anticipation notes issued in 2005 for the Golden Gate Park Music Concourse underground parking facility.
The presentation…
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