SAN FRANCISCO - The San Diego County Board of Supervisors this week approved plans to refund $485 million of auction-rate pension obligation bonds and to issue up $395 million of lease revenue bonds for construction of a new county operations center.

The county plans to pay down $44 million of the taxable pension debt and to refinance $441 million over 22 years. The deal, slated for sale sometime in late July, will include as much as $100 million of variable-rate debt.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.