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El Dorado Irrigation District works on restructuring its debt

Posted by: Maven on February 9, 2010 at 6:23 am

From the Sacramento Bee:

” El Dorado Irrigation District officials moved Monday to restructure the district’s debt after approving scaled-back rate increases last week.

District officials over the past month announced a number of steps to boost revenue and cut costs in an effort to minimize rate hikes while maintaining the required debt coverage.

Customer outrage over the rate hikes initially proposed – water and sewer rates would have increased about 80 percent in total over five years – has drawn the attention of state Assemblyman Ted Gaines. The Roseville Republican has asked the Joint Legislative Audit Committee to order an audit of the water district’s finances. The committee is scheduled to consider the request Feb. 17. … “


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February 9, 2010 · Filed Under Sacramento

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