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WaterOne Sells 2010 Bonds On June 8, 2010 WaterOne held a competitive public sale for $28,890,000 of 2010 Bonds to fund improvements to the water system including a new Pump Station in the South Booster System. Six bids were received from underwriters. The Water District Board awarded sale of the 2010 Bonds to Hutchinson, Shockey, Erley & Co., Chicago , IL who submitted the best bid with an effective interest rate (True Interest Cost method) of 3.674516 %. The Water
District pays lower interest rates on its bonds because of exceptionally
high bond ratings, which results in savings to the District’s
ratepayers. Standard & Poor’s Corporation (S&P) and Moody’s Investors
Service, Inc. (Moody’s) affirmed their ratings on WaterOne’s senior
parity debt to their respective highest ratings of “AAA” and “Aaa”.
The second lien debt, including the 2010 Bonds, was affirmed “AAA” by
S&P and “Aa1” by Moody’s. |