Debt Service

Debt Service

The $1,300,000 debt service for the 1964 general obligation waterworks bonds was paid off in 1989.

On April 19, 2004, the District entered into an installment sale agreement with Municipal Finance Corporation for $1,500,000 payable to City National Bank. The agreement provided financing for the construction of water storage facilities known as Eastside 3MG tank and Pump Station.  This agreement was refinanced in July of 2013 at an interest rate of 2.35% with a 12-year payback due April 21, 2016.

On August 27, 2007, the District entered into an installment sale agreement with Municipal Finance Corporation for $1,500,000 payable to Citizens Bank. The agreement provided financing for the construction of a water storage tank and pump station in IDA, known as the Station 8 Tank and Pump Station. This agreement was also refinanced in July of 2013 at an interest rate of 2.65% with a 15-year payback due July 15, 2022.

In July of 2013 the District obtained additional financing for the 1.2 million gallon water storage tank (Zone 4 Tank) and the Station 6 pump station for a total of $900,000 at an interest rate of 2.35%.

In November 2019 the District obtained financing for the rehabilitation of its Forebay facility tank and pump station. Forebay is the Districts main pump station that brings imported water into the District. The District finance $5.0 million dollars over a 20-Year period at a rate of 2.66%. 

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Yuima Municipal Water District