The Pajaro Valley Water Management Agency has successfully refinanced a portion of its debt. This week, the agency issued nearly $20 million in revenue bonds with an all-inclusive cost of over 2.5 %. PV Water expects to save over $250,000 annually, saving ratepayers $3.5 million through March 2029. The agency was able to secure a low interest cost by receiving a rating upgrade from Standard & Poor’s Ratings Service. PV Water has been given an “AA” rating based on board leadership, strong management and the removal of the sunset restriction on the groundwater augmentation charge.
