South Gate Utility Authority
Bond Financing

The Challenge

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.

The Solution

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 Results

The project opened in mid-2014.

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