April 28, 2010

Wednesday’s Water News: Massachusetts Sells $283M in Bonds for Water and Sewer Systems

Posted in California, Illinois, Maryland, Massachusetts, Michigan, Oregon, Rhode Island at 1:02 pm by bengann

The Massachusetts Water Resources Authority (MWRA) has sold $283 million in tax exempt bonds, $30 million more than planned, to help finance construction and operations of water and sewer systems. $100 million in bonds will help fund construction while approximately $183 million will refinance existing debt, all backed by the agency’s revenue. MWRA provides water and sewer services to 43 percent of the state’s residents.

In an effort to jump-start a major renovation of its Lake Michigan water supply system, the village of Oak Lawn will receive $40 million in low-interest loans from the state EPA. The estimated $193 million renovation project would update and greatly expand an antiquated water system that now snakes through 257 miles of pipe, affecting about 100,000 hookups.

An 80-year-old water main ruptured yesterday in San Diego causing a large sinkhole and forcing the closure of a busy thoroughfare and connector road for hours.

In Rhode Island, the cost of replacing the water treatment plant that supplies most of Portsmouth and other parts of Aquidneck Island with its water and making other improvements to the island supply system could be as high as $87 million.

Stimulus Spotlight
More than $5 million in federal money is coming to Baraga, Michigan so the village can upgrade the water system. This includes a loan of more than $2.5 million through stimulus money and the remainder in the form of a grant.

Sewer Rate News
Cumberland, Maryland
Geneva, Illinois
Silverton, Oregon
Springfield, Illinois

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