This ordinance allocates over $6.1 million in interest earnings from previous earthquake safety bonds to support the planning and design of the Emergency Firefighting Water System projects. These projects aim to enhance fire protection in the event of an earthquake, safeguarding lives and property.
Ordinance appropriating $6,181,212.25 in interest earnings from the 2010 and 2014 Earthquake Safety and Emergency Response (ESER) Bonds to fund planning and design phases of the Emergency Firefighting Water System (EFWS) projects, currently funded by the ESER 2020 Bond, for protecting against the loss of life, homes, and businesses from fires following an earthquake to the Public Utilities Commission in Fiscal Year (FY) 2024-2025.
How it got here
This legislation originated from the need to allocate interest earnings from previous Earthquake Safety and Emergency Response Bonds to fund emergency firefighting water system projects.
The SFPUC presented a request to allocate $6,181,212 in accrued interest from the 2010 and 2014 ESER Bonds for Emergency Firefighting Water System projects.
The Budget and Finance Committee reviewed and amended the ordinance to appropriate the interest earnings for the Public Utilities Commission.
The Board of Supervisors passed the ordinance on first reading, which appropriated the interest earnings for the EFWS projects.
The Board of Supervisors finally passed the ordinance, allowing the allocation of funds for the Emergency Firefighting Water System projects.
The Mayor approved the ordinance, finalizing the appropriation of the funds for the Public Utilities Commission.
Reconstructed from attached documents & the official record
