Oakland to Sell $65.5 Million in Its First Sewer Revenue Bond Deal

Kelemen, Jasmina
November 2004
Bond Buyer;11/30/2004, Vol. 350 Issue 32019, p6
Trade Publication
The article reports on expected sell of sewer revenue bond in Oakland, California. Oakland expects to competitively sell $65.5 million of sewer revenue bonds tomorrow, the first time the municipality will issue such debt. Mere-than a year ago city residents approved a rate hike that would increase user fees by 11% from 2004 to 2009, paving the way for the city to issue debt to speed up the rehabilitation and replacement of aging sewer lines. The issuance comes as the City Council faces a $45.9 million deficit that the Oakland Tribune reported could threaten basic city services over the next two years.


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