Friday, May 1, 2009 , Updated
Arlington approves water bond ordinance that will save the city $1 million
By approving the refinancing of $13.7 million worth of water and wastewater revenue bonds, the City of Arlington sets itself up to save more than $1 million over the next ten years, say city officials.
The refinancing move became feasible once the city's Water Utilities Dept. received upgraded ratings from Standard & Poor's (AA+) and other bond rating services, thanks to their favorable financial performance and history of replacing aging infrastructure, along with rehabilitation of existing infrastructure.
Arlington Water Utilities provides treated water to 99,800 customers in the city; it purchases its raw water from the Tarrant Regional Water District under a contract with the Trinity River Authority which extends to 2023.
source: City of Arlington
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