Utilities Commission Headquarters Bond Financing

At a glance

What: Ordinance letting the Public Utilities Commission sell revenue bonds to prepay each utility's share of rent on the Commission's headquarters at 525 Golden Gate Avenue: up to $492,820,000 for water, $24,570,000 for wastewater and $12,610,000 for power.
Where it stands: Finally passed October 20, 2026, 9-0 with two members excused. It needed eight votes under Charter Section 8B.124.
Next: No further Board action; the Commission can proceed with the bond sales.

File No. 260809, a Budget and Finance Committee recommendation, flagged with a fiscal impact.
President Mandelman asked on October 6 to be added as the primary sponsor.
Purpose: prepay each enterprise's allocable share of Base Rental Payments under the Project Lease that financed the headquarters, and ratify earlier actions.
First reading October 6: 11-0. Final passage October 20: 9-0 (Ayes: Chan, Dorsey, Fielder, Mahmood, Mandelman, Sauter, Sherrill, Walton, Wong; excused: Chen, Melgar).

Unfinished business. FINALLY PASSED, 9-0 (two-thirds, eight votes, required).

New business. PASSED ON FIRST READING, 11-0; Mandelman added as primary sponsor.