WATER AGENCY GETS LOW-INTEREST BONDS.Byline: Kathleen Sweeney Staff Writer SANTA CLARITA Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, - The Castaic Lake Castaic Lake is a lake on Castaic Creek formed by Castaic Dam, in northwestern Los Angeles County, California, near the town of Castaic. The 323,700 acre foot lake (399,000,000 m³) is the terminus of the West Branch of the California Aqueduct, though some comes from the 154 mi² Water Agency has qualified for a low interest rate on $80 million in new bonds that will replenish funds used to buy the Santa Clarita Water Co. and help fund capital improvement projects. After the CLWA CLWA Chip-Level Weibull Analysis CLWA Children living with AIDS (Lancaster, OH) board voted 10-1 to issue the bonds earlier this week, officials were offered the bonds at 5.04 percent - less than the board's planned interest rate cap. ``The use of this type of financing process is a common and economical way to fund public infrastructure,'' Robert Sagehorn, CLWA general manager, said in a statement. ``The board of directors' sound fiscal management policies have made such economical financing possible.'' CLWA received the highest credit rating from Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index credit rating company, enabling them to save on the cost of issuing the bonds and interest rates, officials said. Agency officials said they only consider $17 million of the bond financing new debt, increasing the agency's debt to $208 million without interest. The remaining $63 million will be repaid from the general operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. of the Santa Clarita Water Co., formerly privately owned, and by no longer paying dividends or income taxes. Fees for new connections will also help repay the bonds. Water rates will not be affected, officials said. ``The benefit, of course, is the water usage,'' said Laurie Foster, CLWA finance officer. ``We are able to make it work to our advantage more than before with a more consistent month-to-month purchase of water.'' Money also will be used to fund several capital improvement projects, including the expansion and upgrade of the 20-year-old Earl Schmidt Earl Schmidt was born November 27, 1929 to Phillip and Emma Schmidt on a dairy farm in Cologne, Minnesota. He is a polka musician who was inducted into the Minnesota Music Hall of Fame in 2004. Filtration Plant. By making structural and technological improvements at the plant, CLWA will meet the terms and requirements of the Safe Drinking Water Act The Safe Drinking Water Act (SDWA) is a United States federal law passed by the U.S. Congress on December 16, 1974. It is the main federal law that ensures safe drinking water for Americans. and the California Department of Health Services Department of Health Services may refer to:
Other projects include the Honby Extension and Lost Canyon Booster Station, and water supply firming projects, such as groundwater banking programs and acquisition of additional State Water Project entitlement as proposed in the Urban Water Management Project. ``California water agencies such as CLWA must make capital improvements on an ongoing basis in order to maintain adequate, high-quality water supplies,'' CLWA board President Don Froelich said in a statement. ``We in the water sector wish to avoid the type of infrastructure shortage the energy sector is now experiencing.'' |
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