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2021 Annual Report
2021 Annual Report

2021 Annual Report

Innovation and
Business Services


Ratepayers Save $48 Million in Water Authority Bond Refundings

In April 2021, the Water Authority completed a series of bond refundings that saved ratepayers $48 million. It was the latest in a long series of debt refinancing moves that helped reduce the cost of critical infrastructure investments. The savings from the refinancing of the Series 2021S-1 (Green Bonds) and Series 2021B (Green Bonds) were supported by continued strong credit ratings issued in March 2021. Green bonds are designated to encourage sustainability and to support clean water, sustainable water management, and other environmental projects.

Besides refinancing debt, the Water Authority continued working on several fronts to save money for ratepayers and reduce upward pressure on rates from forces outside the agency’s control. Water Authority court victories also generated $44.4 million in refunds for member agencies and prevented tens of millions of dollars in additional charges.

“The Water Authority continues to navigate complex challenges, including the pandemic, to benefit the San Diego region’s ratepayers with lower borrowing costs. Our experienced management team is saving money for water users while also promoting environmental sustainability and generational equity – a credit to our prudent fiscal policies and practices.”
Gary Croucher
Board Chair
Water Authority