The Santa Clarita Valley Water Agency unanimously approved a bond issuance that would raise $75 million by 2032 and a debt-financing plan that would saddle the water retailer with a little more than a half-billion dollars in debt, according to the agency’s plans.

The efforts are expected to help the agency address capital projects’ costs estimated in the neighborhood of $747 million through the life of the bond issuance, according to SCV Water’s financial advisers.