Supervisors approve tax-exempt bonds for SONGS

The San Diego County Board of Supervisors gave its approval to the issuance of tax-exempt re-funding revenue bonds for the San Onofre Nuclear Generating Station (SONGS).

The supervisors’ 5-0 vote September 14 authorizes the California Statewide Communities Development Authority (CSCDA) to issue up to $100,000,000 of revenue bonds to SONGS. The CSCDA bonds will be used to re-finance all or part of two previous series of fixed-rate tax exempt bonds issued by the California Pollution Control Financing Authority in 1999.

The CSCDA was created in 1988 as a joint powers agency. Its purpose is to pro...