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San Diego
Thursday, Mar 28, 2024
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City Secures $93M in Bonds

City Secures $93M in Bonds

The city of San Diego issued tax anticipation bonds of $93.2 million last month to fund its short-term borrowing needs at an interest rate of 3 percent.

The bonds, which received the highest credit ratings from three credit agencies, are for a term of 13 months and issued annually to fund the city’s seasonal cash flow deficits.

The bonds will be repaid from property tax revenues.

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