The San Diego County Water Authority has signed a 20-year agreement with San Diego-based Borrego Solar Systems, Inc. to install and operate solar electric power systems at three major Water Authority facilities. Based on today’s energy costs, the Water Authority’s energy cost savings is estimated at nearly $1.7 million over the life of the contract.
The San Diego County Water Authority on Wednesday successfully completed bond sales of $627 million to provide continued funding for the Water Authority’s Capital Improvement Program (CIP). High investor demand for the bonds helped the Water Authority secure very low interest rates that will save its ratepayers over $50 million in financing costs on a present value basis over the life of the bonds.
The San Diego County Water Authority has been awarded the Distinguished Budget Presentation Award for its Fiscal Year 2010 and 2011 budget by the Government Finance.
Officers Association of the United States and Canada (GFOA). The award, the 12th to be received by the Water Authority, is considered the highest form of recognition in governmental budgeting. The agency also received the 2010 Excellence in Budgeting Award from the California Society of Municipal Finance Officers (CSMFO).
The San Diego County Water Authority Board of Directors today voted to adopt a position of oppose on Proposition 16, a statewide initiative that would amend the state constitution to require a two-thirds super-majority vote before a public agency could provide electric delivery service to new customers. The measure is on the June 8, 2010 statewide primary election ballot.
The San Diego County Water Authority Board of Directors today adopted rates and charges for water purchased in calendar year 2011 by the Water Authority’s 24 member retail agencies. The total Municipal and Industrial cost of treated water will rise to $1,026 per acre-foot, effective January 1. That is an increase of $104, or 11.3 percent.
After weighing a number of options designed to ensure the successful construction of the nation’s largest seawater desalination plant, the San Diego County Water Authority Board of Directors today directed the agency’s staff to return to its July 22 meeting with draft terms and conditions for purchasing water directly from the Carlsbad Desalination Project, currently being developed by Poseidon Resources.
In response to reduced short-term water demand projections and changing economic circumstances, the San Diego County Water Authority Board of Directors today approved deferring the construction of 11 infrastructure projects to July 2014 or later. This action postpones $82 million in costs and will help moderate Water Authority rate increases in 2012 and 2013.
The board also directed staff to evaluate three other projects, totaling $68 million, for potential deferral. Staff will return to the board in February with a recommendation.