Wastewater Commercial Paper Program

At a glance

• What: Authority for the San José Financing Authority to issue subordinate wastewater revenue commercial paper notes, up to $200 million outstanding at any time.
• Where it stands: RES2026-310 and SJFA166 adopted unanimously September 29, 2026, with Councilmember Cohen moving both and Councilmember Kamei then Councilmember Doan seconding (9-0-2; absent Councilmember Campos, Mayor Mahan).
• Next: None.

Details

Approves the offering memorandum, dealer agreements, issuing and paying agent agreement, subordinate installment purchase contract, reimbursement agreement and fee agreement, and permits extending the supporting letter of credit provided the facility fee rate does not exceed 1.00% on the obligor ratings at the time. Presented by Director Provenzano and a Finance assistant director. Speakers: Brian Darby and a call-in speaker.

Sources

• City Council minutes, September 29, 2026: https://sanjose.legistar.com/View.ashx?M=M&ID=1423868&GUID=41519D35-C66F-4C8A-94B9-E0461B3C0025

Log

2026-09-29 - City Council and Financing Authority

Joint meeting chaired by Vice Mayor Foley; both resolutions adopted 9-0-2.