The current budget for the plant upgrade is sizable at...
The current budget for the plant upgrade is sizable at approximately $75 million, including $56.6 million in a guaranteed construction contract. While historical system financial performance has been healthy, adequate coverage on the 2006 bonds will require a significant increase in net revenues. The city council and sanitary district boards have already approved rate increases of 32% in fiscal 2006 and an additional 59% over the next three years, to $65.68 in fiscal 2009. While high, these rates would not be the highest for comparable sanitary districts in northern California, and the rate increases have gone through the required public hearing process.
- Additional
- Adequate
- Approved
- Boards
- Bonds
- Budget
- City
- Comparable
- Council
- Coverage
- Current
- District
- Districts
- Financial
- Fiscal
- Gone
- Guaranteed
- Hearing
- Highest
- Historical
- Including
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- Increases
- Million
- Net
- Next
- Northern
- Performance
- Plant
- Public
- Rate
- Rates
- Require
- Required
- Sanitary
- System
- Three
- Upgrade