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Ontario council approves up to $100 million in lease revenue bonds; residents press city on homelessness, code enforcement and aircraft noise
Summary
The Ontario City Council approved resolutions authorizing the Ontario Public Financing Authority to issue lease revenue bonds not to exceed $100,000,000 for public capital improvements. During public comment, residents raised concerns about school-building impacts, homelessness and worsening aircraft noise and asked for staff follow-up.
The Ontario City Council on May 9 voted to approve two bond-related resolutions allowing the Ontario Public Financing Authority to issue lease revenue bonds in an aggregate principal amount not to exceed $100,000,000 to finance public capital improvements.
The City Clerk said notice of the public hearing had been given and affidavits of compliance were on file; no written or oral comments were submitted on the item during the hearing. After the clerk's presentation, a councilmember moved to "approve as presented," and the motion passed.
Why it matters: the bond authorization enables the city's financing arm to sell debt to pay for eligible public capital projects. The council's approval sets the legal framework for bond sale and related agreements, though the transcript does not specify which capital projects would be funded or a sale timeline.
The City Attorney reported earlier that the council had…
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