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Measure B briefing: Clearlake staff outline $14.7M debt financing and next wave of street projects
Summary
City staff told the Clearlake Measure B Oversight Board they completed roughly $14.7 million in debt financing to fund a multi‑year road program, described chip‑seal and asphalt tradeoffs and pointed to a separate state allocation of about $14 million for Lakeshore and related projects.
City staff told the Measure B Oversight Board that the city completed a debt financing transaction of about $14,700,000 to support bundled pavement projects and ongoing maintenance, and outlined how that financing will shift near‑term spending toward debt service and routine maintenance.
Alan, the staff presenter, said the transaction is complete and described the immediate budgetary impact: debt payments will be a primary use of Measure B receipts in the short term, with expectation that additional revenue in later years will allow renewed pay‑as‑you‑go capital projects. "We did complete that transaction, about 14,700,000.0," Alan said during the financial briefing.
Board member…
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