The San Diego County Water Authority on Tuesday secured nearly $18 million in savings on future debt payments for the region’s water ratepayers by refinancing bonds used to build a major pipeline connected to the Claude “Bud” Lewis Carlsbad Desalination Plant. Savings achieved this week topped earlier projections of $13.6 million through June 2046 on a net present-value basis due to strong demand for the $185 million issuance. Forty-five investors made orders for the bonds that totaled nearly $2 billion. The Water Authority benefitted from having one of the only deals of its kind on the market this week – after waiting for more than a year for market conditions to improve – and ongoing investor interest in the Carlsbad project.