Public Agency:

City and County Seal of San Francisco

Bond, Consulting or Both:

Practice Areas:

NHA Contributions: Managed and coordinated financing team and competitive sale process for refunding bonds.

Project Completion: November 2019

NHA Contact:  Craig Hill and Rob Schmidt

Laguna Honda Hospital in San Francisco

Unique Characteristics of Project: Restructuring allowed for leased asset substitution and modification to the annual debt service to allow for projected future bond financing for additional capital improvements to City facilities. The project required working with Department of Health and the Office of Public Finance to develop financing strategy that met asset allocation and budgetary constraints.

Executive Summary: The City and County of San Francisco accepted a recommendation to consider and implement a refinancing of two outstanding 2009 obligations generating over $46 million in savings through FY 2035. The refinancing related to the City and County’s Laguna Honda Hospital improvements and the street capital projects funded through a 2009A ($163,335,000) and 2009B ($37,885,000) certificates of participation. The refinancing provided a level savings structure to benefit the hospital budget planning.