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Berkeley authority approves lease revenue notes to finance fire administration and training project
Summary
The Berkeley Joint Powers Financing Authority voted May 20, 2025 to authorize the execution, sale and delivery of lease revenue notes to finance a fire administration and training project; bond counsel explained the required two-step lease-financing process and there was no public comment.
The Berkeley Joint Powers Financing Authority voted Tuesday to authorize the execution, sale and delivery of lease revenue notes to fund a fire administration and training project.
The action, taken at the authority’s May 20 meeting, follows a staff presentation and a legal explanation by bond counsel Chris Lynch of Jones Hall. Lynch said the financing uses a lease structure because “in California, cities who wish to finance things using their…
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