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Board authorizes up to $100 million in 2026 certificates to fund capital projects, including stormwater work
Summary
The board approved documents to issue up to $100,000,000 in 2026 Series A certificates of participation to fund county capital expenditures. Staff estimated annual borrowing costs at about 3.8% (~$7 million); members highlighted $11.9 million for stormwater projects to reduce flood risk.
The San Diego County Board of Supervisors authorized documents for the issuance of the county’s 2026 Series A certificates of participation in an amount not to exceed $100,000,000 to fund capital projects appropriated for fiscal year 2025–26. County staff told the board the anticipated borrowing cost is approximately 3.8 percent, an estimated $7,000,000 annually, with payments beginning in fiscal year 2026–27 and a final maturity in fiscal year 2046–47. Staff said the actual interest cost will be determined when the county sells the certificates, anticipated…
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