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Council authorizes up to $465 million in lease revenue bonds to fund city CIP, approves ballpark refunding
Summary
The council authorized up to $465 million in general‑fund‑backed lease revenue bonds for capital projects through FY27 and separately authorized refunding of outstanding 2016 ballpark refunding bonds; staff said refundings will proceed only if debt policy savings thresholds are met.
City finance staff asked the City Council on June 3 to authorize up to $465 million in new, general‑fund‑backed lease revenue bonds to fund previously appropriated capital improvement program (CIP) projects through fiscal year 2027 and to authorize potential refundings of outstanding 2015 lease revenue bonds and 2016 ballpark refunding bonds.
Krista Davidson, financing coordinator, explained the structuring elements: the bonds are expected to be tax‑exempt lease revenue bonds issued under…
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