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Supervisors approve first reading of Port refunding COPs and adopt $11.5M grant amendment for rapid rehousing
Summary
On first reading, the board authorized refunding certificates of participation for Port of San Francisco projects (items 10–11) including an aggregate principal amount described as $25,000,000 and various appropriations; the board also unanimously adopted item 14 to increase Episcopal Community Services’ grant by $11,500,000 to $21,500,000.
The Board of Supervisors took several finance and grant actions during the Jan. 28 meeting. The clerk called items 10 and 11 together as ordinances relating to refunding Certificates of Participation (COPs) for Port of San Francisco projects and related authorizing documents; the clerk described an aggregate principal amount of $25,000,000 to prepay certain prior COPs and detailed forms and documents related to the transaction, including supplements to trust and lease agreements and escrow and purchase contracts.
Item 11 was described as appropriating $28,300,000 (and other prior debt service reserve proceeds and…
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