California State Senator Ben Hueso (D-San Diego) convened a half-day meeting at the South Bay International Wastewater Treatment Plant on July 9, 2020 between officials from both sides of the border to discuss the binational efforts that are underway to stem the flow of toxic wastewater in the Tijuana River Valley.
The Imperial Irrigation District Board of Directors approved their annual funding contribution to the Colorado River Board at their July 7 meeting.
The board met in their regular session to approve a $661,250 contribution to the Colorado River Board of California’s 2020-2021 budget to help achieve the mission to protect the Colorado River.
The California Environmental Protection Agency announced nearly $100,000 in grants Friday going toward two San Diego-area projects as part of the agency’s Environmental Justice Small Grants program. The agency gave $50,000 to the Southern California Tribal Chairmen’s Association to identify the watersheds within in the San Diego Regional Water Quality Control Board’s jurisdiction where Native American cultural uses are occurring and where appropriate water quality standards are needed to ensure vulnerable populations are protected.
The Imperial Irrigation’s financial picture after the first six months was not a rosy one, and the district expects it to get worse as COVID-19 numbers continue to increase in the county.
When IID Assistant General Manager Sergio Quiroz presented the IID Board of Directors Tuesday with the district’s financial update, he pointed out the figures include January through March, before COVID-19 had fully impacted the district.
Editor’s Note: This feature highlights water utility employees in the San Diego region working during the coronavirus pandemic to ensure a safe, reliable and plentiful water supply. The water industry is among the sectors that are classified as essential. LaMont Foster, Santa Fe Irrigation District Utility Worker I, is the Water Utility Hero of the Week.
I’ve had a few careers before working here at Santa Fe. After being laid off from a job I was at for more than 20 years, I was working as a bus driver for a school district. Someone had mentioned the water and wastewater internship managed by the San Diego County Water Authority. I applied and was accepted and worked with some great people at Otay and Helix and transitioned to a full-time job at SFID. I really enjoy working in the water industry. Water puts everyone on the same level. We all need it, and we all appreciate it even more when there is a problem getting it.
We used to drive around in crews of two together, but we drive separately now. We are also moving around the building a little differently and changing reporting times so there are fewer people in one place at a time, but other than that, the work is the same. We respond to customer concerns, fix what needs to be fixed and keep our maintenance schedule.
I’ve got some high-risk people in my family, so I am doing what I can to limit my exposure to people and going places. Just me and the family at the house and I am always sure to mask up. It’s important.
My life isn’t all that much different, but I really look forward to taking my wife and son out for a nice meal and enjoying ourselves. Not be worried or anxious about the people around me. I am really looking forward to that.
Strong credit ratings for the San Diego County Water Authority will save water ratepayers across the region $67.4 million on bond sales executed Wednesday in New York — $27 million more than staff forecasted in May. All three major rating agencies – S&P, Moody’s and Fitch – recently affirmed the Water Authority’s positive ratings and stable outlook, creating the opportunity for ratepayers to benefit from lower financing costs for critical water infrastructure.
Editor’s Note: This feature highlights water utility employees in the San Diego region working during the corona virus pandemic to ensure a safe, reliable and plentiful water supply. The water industry is among the sectors that are classified as essential. Carrie Selby, City of Escondido Wastewater Treatment Plant Operator, is the Water Utility Hero of the Week.
The California Department of Water Resources has awarded more than $15 million in grant funds to advance several regional water projects in San Diego County, ranging from water recycling and reuse to water conservation.
The San Diego County Water Authority submitted the funding request on behalf of the San Diego Integrated Regional Water Management Program, or IRWM. The San Diego IRWM Program began in 2005 as an effort by water agencies, wastewater agencies, stormwater and flood managers, watershed groups, business leaders, disadvantaged communities, tribes, agriculture, and nonprofit stakeholders to improve water resources planning in the region.
Strong credit ratings for the San Diego County Water Authority will save water ratepayers across the region $67.4 million on bond sales executed Wednesday in New York — $27 million more than staff forecasted in May. All three major rating agencies – S&P, Moody’s and Fitch – recently affirmed the Water Authority’s positive ratings and stable outlook, creating the opportunity for ratepayers to benefit from lower financing costs for critical water infrastructure.
The savings resulted from the Water Authority’s refinancing of $283.5 million in Series 2020A Bonds (Green Bonds) and $117.7 million in Series 2021A (Green Bonds) senior-lien water revenue refunding bonds. Technical factors in the market provided favorable conditions – including more demand for bonds than supply – that the Water Authority team moved quickly to capture.
The Water Authority bonds were priced July 8 – a week ahead of schedule – and the strong credit ratings, strong bond policies, and swift action by the Board of Directors in June, helped lower the interest rates compared to what the Water Authority would have had to pay with downgraded credit. Since 2010, the Water Authority has saved a total of $235 million through 10 bond refundings, including the latest transactions.
“Thanks to strategic, courageous action by the Water Authority Board of Directors in June to set rates for 2021, the agency has secured the most significant savings from bond refundings in the past decade,” said Water Authority Board Chair Jim Madaffer. “The Water Authority maintains a strong financial position even in these difficult times, and that ultimately benefits everyone who calls San Diego County home.”
In affirming their credit ratings over the past few weeks, the three rating services cited the Water Authority’s strong financial leadership, including prudent strategies to manage issues related to COVID-19, its success diversifying water supply sources, its commitment to infrastructure maintenance, and its financial reserves for managing contingencies, among other factors.
“In the midst of a global pandemic and a challenging economy, the Water Authority continues proactively managing its finances and lowering the cost of debt,” said Lisa Marie Harris, finance director for the Water Authority. “We have strong debt coverage, healthy reserves and an experienced management team to sustain our fiscal health.”
For more information about the Water Authority’s finances go to: www.sdcwa.org/finance-investor-relations.
Series 2020A – Taxable Refunding
Issue Size: $283,470,000
Bond maturities: 2024-2034
Bond yields: .59% – 1.95%
Refunding savings: $38.7 million
Savings as % of refunded bond par: 15.3% (board min savings 2-5%)
Top Investors: Progressive, Morgan Stanley, Goldman Sachs, and State Farm
Series 2021A –Tax-Exempt Refunding (Forward Delivery)
Issue Size: $117,690,000
Bond maturities: 2022 – 2031
Bond yields: .45% – 1.13%
Refunding savings: $28.7 million
Savings as % of refunded bond par: 19.7% (Board Min savings 2-5%)
Top Investors: Vanguard, Alliance Bernstein, Seix Investors, and MIZUHO Bank
The Rainbow Municipal Water District is hoping to fund the replacement of its current headquarters building through the sale of land, and a request for qualifications to provide development study services resulted in that study services contract was awarded to MasterCraft Homes Group, LLC.
Rainbow’s board voted 5-0 June 23 to award the contract and in the absence of board authorization for additional compensation, the contract will be for $122,324.
The Water News Network is San Diego County’s source for water news and information.
