South Gate Utility Authority
The City needed to pay for offsite public improvements related to “azalea”, a major retail development in the City with promises to generate significant sales tax revenues for the City.
A $32.8 million bond issue. The issuance was also a refunding of existing bonds through which they saved $1.6 million . Approximately $8.4 million in new funds were provided to complete the offsite retail improvements.
The project opened in mid-2014.