This ordinance removes $160,467,200 in funding from the 2020 Health and Recovery General Obligation Bonds that was allocated to the Department of Public Health and the Department of Homelessness and Supportive Housing for the fiscal year 2025-2026. The funds will no longer be available for their intended purposes.
Ordinance de-appropriating $160,467,200 General Obligation (GO) Bond proceeds from 2020 Health and Recovery GO Bonds, Series 2021D from the Department of Public Health (DPH) and the Department of Homelessness and Supportive Housing (HOM) in Fiscal Year (FY) 2025-2026.
How it got here
This legislation originated from the need to de-appropriate unissued General Obligation Bond proceeds from the 2020 Health and Recovery Bonds due to unspent allocations.
Voters approved $487.5 million in Health and Recovery General Obligation Bonds to fund supportive housing and mental health services.
The Board approved the issuance of $425 million in Series 2021D Health and Recovery Bonds.
The Mayor's Office introduced an ordinance to de-appropriate $160,467,200 from the unissued Series 2021D bonds.
The Budget and Finance Committee recommended the de-appropriation ordinance for approval.
The Board of Supervisors passed the ordinance on first reading.
The ordinance was finally passed by the Board of Supervisors.
The Mayor approved the ordinance de-appropriating the bond proceeds.
Reconstructed from attached documents & the official record
This resolution allows San Francisco to issue and sell up to $150 million in general obligation bonds to fund health and recovery initiatives. It also outlines the terms, procedures, and necessary approvals for the bond sale.
This ordinance allocates $150 million from 2020 Health and Recovery bonds to the Department of Public Health and the Mayor’s Office of Housing and Community Development for acquiring and improving facilities related to behavioral and mental health, as well as supportive housing and shelters for Fiscal Year 2025-2026. The funds will be held in reserve until the bond proceeds are received.
This ordinance allocates $150 million from 2020 Health and Recovery bonds to the Department of Public Health and the Mayor’s Office of Housing and Community Development for acquiring and improving facilities related to behavioral and mental health, as well as supportive housing and shelters for Fiscal Year 2025-2026. The funds will be held in reserve until the bond proceeds are received.
This resolution allows San Francisco to issue and sell up to $150 million in general obligation bonds to fund health and recovery initiatives. It also outlines the terms, procedures, and necessary approvals for the bond sale.
