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Title:
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REPORT - ISSUANCE OF WASTEWATER REVENUE BONDS, SERIES 2026A AND RELATED DOCUMENTS AND ACTIONS
BACKGROUND: Santa Rosa Water proposes that the City issue the Series 2026A Bonds to: (i) finance approximately $35 million of the Laguna Treatment Plant Electrical Infrastructure Improvement Project, (ii) refund in full the outstanding City of Santa Rosa Wastewater Revenue Bonds, Series 2014A (“Series 2014A Bonds”) and Series 2016A (“Series 2016A Bonds”), and (iii) partially defease the City’s outstanding Wastewater Revenue Bonds Series 2002B (“Series 2002B Bonds”). Staff recommends this financing structure to fund the electrical infrastructure improvements, reduce aggregate near-term debt service, release available funds, improve debt-service coverage, and provide flexibility in structuring future wastewater debt. Because the estimated savings from the refunding do not satisfy the minimum savings threshold established by Council Policy 000-58, the proposed resolution would waive that requir...
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