“Interest-ing” Cost Cutting Methods

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Dollar Bill Water Drop

Continuing with this series about the steps PWD has taken to keep our rate changes as low as possible, let’s talk interest rates.

If you’ve refinanced your home recently to take advantage of historically low interest rates, then you know how much you can save in your own budget. The Water Department issues bonds almost every year to fund major capital expenses. With falling interest rates and an improved bond rating, we’ve been able to refinance much of this debt, saving over $40 million just in the last few years. Over the coming years we intend to use our new rates to improve our bond rating even further. By doing so, we will reduce interest payments and realize more savings.