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Committee advances port revenue bond measures to fund pier repairs and new projects
Summary
The committee recommended sending to the full board an ordinance authorizing the Port of San Francisco to issue revenue bonds (up to $45 million) and an appropriation of roughly $33.4 million in bond proceeds for repairs and projects including urgent Pier 35 repairs, Pier 27 cruise terminal design, and backlands grading.
The Budget and Finance Committee voted to send three port items to the full Board of Supervisors: an ordinance authorizing the Port to issue revenue bonds by adding procedures to the Administrative Code; a resolution authorizing up to $45 million in port revenue bonds; and an ordinance appropriating approximately $33,395,571 of bond proceeds for capital repairs and projects.
Tina Olson, speaking for the Port of San Francisco, told the committee that the port…
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