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Underwriter outlines plan for up to $30M Measure G issuance and $8M refunding to save taxpayers about $1M in present value
Summary
RBC Capital Markets presented a financing plan including a not-to-exceed $30 million issuance under Measure G and a recommended refunding of certain 2018 bonds that could yield about $1 million in present-value savings; next steps include county board action, rating-agency review and investor marketing.
Catherine Jacobson, managing director at RBC Capital Markets, briefed the Pacifica School District board on March 11 about plans to issue the next tranche of Measure G bonds and to refund a portion of the 2018 debt. Jacobson said Measure G (approved by voters in March 2024) originally authorized $70 million; the district previously sold $10 million and has roughly $60 million remaining available under that authorization.
Jacobson described a proposed 2026 series not-to-exceed $30 million and provided estimates based on current market…
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