Long-Term Debt

As of June 30, 2018, the Water Authority has approximately $1.84 billion of long-term debt outstanding. Long-term debt is in the form of fixed-rate revenue bonds, with final maturities at the time of issuance in the 20 to 40-year range. The Subordinate Lien Water Revenue Refunding Bonds Series 2016S-1, are 5-year bonds maturing in 2021 and are included below as an outstanding long-term liability. Most of these bonds (except for the Series 2010B Water Revenue Bonds) are tax-exempt. The Series 2010B Water Revenue Bonds were issued as taxable bonds pursuant to the “Build America Bonds” stimulus program created under the federal “American Recovery and Reinvestment Act of 2009”.  In January 2019, the Water Furnishing Revenue Bonds Series 2019 Pipeline Bonds, refunded the outstanding Series 2012 Pipeline Bonds. The Water Furnishing Revenue Bonds Series 2019 are subordinate to the pledge of Net Water Revenues for payment of Water Revenue Bonds and Certificates of Participation, Contracts, Reimbursement Obligations, and Subordinate Obligations. 

Long-Term Active Debt Instruments - Official Statements [pdf] Principal Amount Outstanding
Taxable Offerings
Water Revenue Bonds 2010B Build America Bonds (BABS), due May 1, 2049 526,135,000
Tax-Exempt Offerings
Water Revenue Refunding Bonds, Series 2016A (Green Bonds), due May 1, 2033 98,945,000
Water Revenue Refunding Bonds, Series 2016B, due May 1, 2038 197,395,000
Subordinate Lien Water Revenue Refunding Bonds, Series 2016S-1, due May 1, 2021 87,685,000
Water Revenue Refunding bonds, Series 2015A, due May 1, 2029 184,795,000
Water Revenue Refunding Bonds, Series 2013A, due May 1, 2034 299,105,000
Water Furnishing Revenue Bonds, Series 2012 (Pipeline Bonds), due November 21, 2045  200,605,000
Water Revenue Refunding Bonds, Series 2011A, due May 1, 2027 95,320,000
Water Revenue Refunding Bonds, Series 2011B, due May 1, 2031 94,540,000
Water Revenue Bonds 2010A non-AMT, due May 1, 2027 9,165,000
Water Revenue Bonds 2008A COPs, due May 1, 2038 17,140,000
Water Revenue Bonds 2005A COPs, due May 1, 2022 13,800,000
Water Revenue Bonds 1998A COPs, due May 1, 2028 11,685,000
TOTAL $1,836,315,000