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Committee backs sending $136M initial bond authorization and short-term note authority for San Francisco General rebuild to full board
Summary
Committee members recommended forwarding resolutions and ordinances to authorize the sale or anticipation of up to $136 million in general obligation bonds (with accompanying short-term-note authority) to fund early shoring and foundation work for the San Francisco General Hospital rebuild, with staff committing to project oversight reporting to the Citizens GO Bond Oversight Committee and the Controller.
Department of Public Works and the Office of Public Finance presented an authorization package to allow the city to issue up to $136 million in initial general obligation bond proceeds and, if market conditions warrant, to execute short-term bond anticipation notes to finance early work on the San Francisco General Hospital rebuild. The initial series would finance early construction…
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