What is the opportunity?
The Authority is expected to come to market with $269 million1 in Senior Sewer Revenue Refunding Bonds, Series 2015. Proceeds will be used to refund all or a portion of the Authority's outstanding senior sewer revenue bonds. The bonds are limited obligations of the Authority, payable solely from installment revenues from the Authority's Wastewater division. Please note the Bonds are neither a debt nor liability of the Authority, City, or State and neither the faith nor credit of any of these entities has been pledged as repayment. The Authority has no taxing power.
The Bonds are rated AA by S&P and AA by Fitch2.
The bond sale offers several attractive benefits for individual investors who are residents of California, including federal- and state-level tax-exemption, prices and yields that match those available to institutional investors, and the potential for stable income.
How to place an order
The offering is expected to be priced the week of August 241, although market conditions or the discretion of the issuer may affect this timeline or the amount of bonds offered. Individual investors can place orders online or by calling a Fidelity representative at 800-460-5848. To stay up to date on pricing, credit rating changes, and more, please sign up for Fidelity alerts or visit our municipal bond new issue offerings page.