SAWS News: Bond Refinancing Will Save Customers $55 Million
Aquifer Beaker

Edwards Aquifer

Aquifer Level 647.4'
6/21/18 - Official

The Edwards aquifer and its catchment area in the San Antonio region is about 8,000 square miles and includes all or part of 13 counties in south-central Texas.

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Watering with an irrigation system or sprinkler is allowed only once a week from 7-11 a.m. and 7-11 p.m. on your designated watering day as determined by your address.

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Bond Refinancing Will Save Customers $55 Million

San Antonio Water System recently took advantage of low interest rates to refinance outstanding debt for savings. Since October 2016, SAWS has refinanced more than $300 million of its water system revenue bonds, saving ratepayers more than $55 million over the next 22 years.

The savings come from bonds originally issued in 2007 and 2009 to fund capital improvements.

“These savings will help with future budgets, and should have a positive impact on future rate adjustment requests,” said Doug Evanson, senior vice president & chief financial officer.

The bond refinancings are part of the utility’s ongoing efforts to minimize costs and ensure fiscal stability. Much like refinancing a home mortgage, this effort allows SAWS to secure a lower interest rate and thus lower interest payments on outstanding debt.

Back to SAWS News Next: Final Backflow Notices May Result in Water Cutoffs