October 13, 2021-Board Meeting

At the October meeting of the OMWD Board of Directors, I supported the purchase of revenue bonds to help maintain OMWD’s water infrastructure and to refinance earlier debt at lower rates. Remarkably, because of its excellent AAA bond rating, OMWD’s interest rate to finance the bonds will be 2.14% for new bonds and only 1.14% for the refinanced bonds, saving the ratepayers $243,000.00! On other items, the Board authorized staff to hire a structural engineering firm to conduct a structural and seismic inspection of OMWD water tanks. These occasional professional inspections are essential to public safety and to ensure the integrity of OMWD’s water storage systems. We also received a report on California water supplies, among other agenda items.

You can review past and present Board and committee meeting agendas and background materials online at  https://www.olivenhain.com/about-us/governing-board/board-meetings/.

Posted on 13 Oct 2021, 09:16 - Category: News