$10.2 Million in Bonds OKd to Finance Water Projects
More than $10.2 million in water revenue bonds will be issued this year to finance 12 Water Department improvement projects in Pasadena.
Paying off the bonds will increase bimonthly water bills by $1.12 for the average residential customer who uses 13,464 gallons each billing period, water officials said.
The City Council approved the bonds Tuesday, along with a $425,000 contract with Foothill Municipal Water District for part ownership of the Altadena South Reservoir.
The planned improvements are to the city’s water delivery system and are unrelated to the drought, said David Plumb, Water Department general manager.
Councilman Isaac Richard criticized city staff members because they asked for council approval after the reservoir had already been built. The contract will allow the city to store 400,000 gallons of water.
The water bonds will be issued in $5,000 increments at interest not to exceed 12% over 20 years. They will help pay for new wells, meters, reservoirs and a water chemistry laboratory.
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