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Council authorizes up to $88M in electric revenue bonds to fund power‑plant repower and system upgrades
Summary
Council authorized issuance and sale of electric system revenue bonds (staff expects to issue $80M) to fund capital improvements including roughly $46M to repower Roseville Power Plant Unit 2 with modern 67 MW units; bonds structured as 20‑year fixed rate financing with estimated interest cost ~3.9%.
The City Council authorized the issuance and sale of electric system revenue bonds during the Dec. 17 meeting to finance upgrades to the electric utility, including repowering work at the Roseville Power Plant.
Assistant City Manager and CFO Dennis Kaufman and Assistant Electric Utility Director Joanna Cucci asked council to authorize up to $88 million (staff expects an $80…
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