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In February 2011, the City issued $306,315,000 in revenue bonds. Of this amount $200,000,000 was new money to fund capital expenditures in 2011 and early 2012. The City also issued $10,000,000 in Clean Renewable Energy Bonds to finance capacity and efficiency improvements at City Light’s Boundary Hydroelectric Project. The rest was used to refinance existing bonds at a lower interest rate, which provided savings of $9.8 million in interest costs.
When the City issues bonds, it is required to publish an "Official Statement," in which the City discloses all information that an investor would need to make a decision as to whether to purchase the City's bonds. This page provides access to the Official Statement issued by the City in connection with City Light's February 2011 bond issue and four previous issues.
The 2011 Official Statement Full Report provides information about City Light as of the time the bonds were issued.
Full Reports for Past Bond Issues
Contact Information
Michael Van Dyck
Director of Debt Financing
Department of Finance and Administrative Services
City of Seattle
michael.vandyck@seattle.gov
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