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Supervisors Recommend Lease Revenue Bonds to Finish Branch Library Projects
Summary
The Budget & Finance Committee voted to send ordinances forward recommending up to about $34.7 million in lease revenue bonds and related appropriations to complete multiple San Francisco branch library projects, while staff said debt service could be covered by an extended library fund or the general fund if voters do not renew funding.
The San Francisco Board of Supervisors Budget & Finance Committee on the record forwarded ordinances recommending issuance of lease revenue bonds intended to complete the Branch Library Improvement Program.
City Librarian Luis Herrera told the committee the bond authority would fund construction at four branches — the Anza, Merced, Golden Gate Valley and Ortega branches — and cover planning and design for Bayview and North Beach. "The purpose of those revenue bonds is to complete the branch library improvement program," Herrera said…
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