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Ontario council approves resolutions authorizing up to $330 million in lease revenue bonds after residents press for repayment details
Summary
The Ontario City Council voted 5-0 to approve resolutions authorizing issuance of lease revenue bond series 2026C (taxable) and 2026D (tax-exempt), drawing public requests for clearer repayment schedules, reserve provisions and long-term fiscal impacts.
The Ontario City Council voted unanimously to approve resolutions authorizing the issuance of lease revenue bonds — described in the staff materials as series 2026C (federally taxable) and 2026D (tax-exempt) — after residents urged more fiscal detail during a public hearing.
Chris Robles, a local resident, told the council the package could include up to $330,000,000 in obligations and asked officials to provide ‘‘total repayment costs, including interest, the annual payment obligations, the long-term risks, and…
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