Aurora Water sells $437 million in bonds to re-fund water plant debt — The Denver Post

prairiewaterstreatment

From the City of Aurora via The Denver Post:

Looking to capitalize on historic-low bond rates, Aurora Water on Thursday sold $437 million in bonds toward re-funding debt associated with its Prairie Waters Project, making it the largest municipal bond issue in the state this year.

With a net savings of $68.6 million, the issue consolidates two other issues and a state loan, water department officials said in a news release.

The Prairie Waters Project was completed in 2010 at a cost of $637 million. It recaptures water Aurora already owns in the South Platte River, beginning in Weld County, and makes full use of Aurora’s mountain and agricultural water rights, increasing the city’s water supply by up to 12 million gallons per day. The water comes from 23 wells that use a riverbank filtration process, pulling water through hundreds of feet of sand and gravel to remove impurities.

The bonds were offered on July 20 and July 21, with first priority given to Colorado residents and businesses.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s