Water Education Foundation
This is just one post in the Sacramento Category
Click here to view all posts

Commentary: El Dorado water utility mismanaged

Posted by: Maven on January 29, 2010 at 7:50 am

From the Sacramento Bee, this guest commentary by former directors of the El Dorado Irrigation District:

” The El Dorado Irrigation District, a utility that serves 100,000 customers, finds itself facing a storm of protest over a proposed 35 percent rate hike. Yet the financial fiasco that district now confronts was not only foreseeable, it was predicted.

In October 2003, the present board placed EID on this collision course when it proceeded to take out $166 million in mostly variable-rate debt to finance an extravagant five-year capital improvement program.

Just before the vote, former director Richard Akin spoke these prophetic words: “A dark cloud of debt will burden EID ratepayers for generations to come.” He then resigned from the board in protest. … “

Read more of this commentary by clicking here.

January 29, 2010 · Filed Under Sacramento

Comments

Leave a Reply