City Council

Item 332: Authorization for the Public Facilities Financing Authority of the City of San Diego\nSewer Revenue Bonds, Series 2024A (“2024 Sewer Revenue Bonds”) Preliminary\nOfficial Statement (“POS”).\nThis item will be considered in the afternoon session which is scheduled to begin at\n2:00 p.m.\nTotal Estimated Cost of Proposed Action and Funding Source:\nEstimated debt service for the 2024 Sewer Bonds is $14.6 million in Fiscal Year 2025 and\n$17.9 million annually from Fiscal Year 2026 to Fiscal Year 2054, paid from the Sewer\nRevenue Fund.\nCouncil District(s) Affected: Citywide.\nProposed Actions:\n(R-2024-664 Cor. Copy)\nResolution approving (i) the form and authorizing the execution and delivery of one or\nmore Preliminary Official Statements and Official Statements in connection with the\nPublic Facilities Financing Authority of the City of San Diego Subordinated Sewer\nRevenue Bonds, Series 2024A, (ii) approving other related actions, and (iii) declaring the\nofficial intent of the City to reimburse certain expenditures from the proceeds of\nindebtedness.\nCommittee Actions Taken:\nThis item was heard at the Budget & Government Efficiency Committee meeting on\nMarch 14, 2024.\nACTION: Motion by Council President Pro Tem LaCava, second by Council President\nElo-Rivera, to recommend Council approval of staff's proposed actions. (Rev.7/10/24)\nVOTE: 3-0; Lee-yea, LaCava-yea, Elo-Rivera-yea, Moreno-not present.\nDepartment of Finance: Jyothi Pantulu, (619) 236-6917\nCity Attorney Contact: David Powell\nSee the Special Public Facilities Financing Authority Agenda of July 16, 2024, for a\nrelated item.