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Council approves up to $15 million in tax‑exempt bond obligations for District 1 project
Summary
The City Council unanimously adopted a resolution authorizing revenue obligations not to exceed $15 million to support a District 1 development; staff said the bonds are not backed by the general fund and authorized the city attorney to execute documents needed for issuance.
The San Bernardino City Council on April 15 voted unanimously to adopt a resolution authorizing the issuance of tax‑exempt revenue obligations not to exceed $15 million for a development in District 1.
City staff explained the proposed financing would be structured through a California authority and emphasized the city would not be using general‑fund dollars to…
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