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Supervisors OK Drew School refinancing with added clause that bond proceeds won't fund demolition
San Francisco Board of Supervisors Budget and Finance Committee · April 25, 2007
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Summary
The committee reviewed a resolution to approve tax-exempt bonds for the Drew School to refinance debt; a public commenter alleged proceeds could fund demolition of residential units, and the committee added a whereas clause clarifying proceeds will not finance demolition.
The committee considered a resolution authorizing up to $11 million in tax-exempt bonds through the California Statewide Communities Development Authority to refinance existing Drew School debt. Anthony Ababan from the Mayor’s Office of Public Finance said refinancing at a lower interest rate is…
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