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Committee clears revenue bond approvals for Institute on Aging project with wording amendment
Summary
The committee advanced ABAC-authorized revenue bond financing for Institute on Aging facilities, with the Institute clarifying proceeds are not for acquisition and the deputy city attorney agreeing to remove acquisition language from the resolution; public commenters encouraged stronger program support for services and physicians.
The Budget & Finance Committee on July 23 advanced a resolution authorizing issuance and sale of revenue bonds by the ABAG Finance Authority for nonprofit corporations to finance facilities for the Institute on Aging.
Anthony Aberbon of the Office of Public Finance opened the item and said the transaction is structured under tax‑exempt issuance procedures and that the obligations carry no fiscal impact to the…
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