Published: Jun 28, 2013 | 21:09 PM

IRWD Customers to Benefit from State New Law

Customers will soon benefit from a change in state law that will allow IRWD to use the District’s overall strong credit rating to obtain low interest general obligation bonds for funding infrastructure projects. IRWD’s infrastructure includes all facilities used to treat, store and deliver water to its customers including items as ordinary as pipelines and reservoirs to larger, more complex infrastructure such as water recycling plants. IRWDs infrastructure costs are funded with revenue from property taxes, general obligation bonds and connection fees. Senate Bill 613, authored by California State Senator Tom Harman and sponsored by IRWD, was signed into law by Governor Arnold Schwarzenegger during the 2010 state legislative session. When SB 613 becomes law on January 1, 2011, it will help IRWD minimize its cost of debt and contribute to keeping IRWD rates among the lowest in the county.

For more information on IRWD’s current infrastructure projects, please visit: www.irwd.com/about-us/construction-projects