The debt for 12 Eastern Municipal Water District community facilities districts will be refinanced.
Both the EMWD board and the Western Riverside Water and Wastewater Financing Authority board met Wednesday, Jan. 20. The refinancing was approved by a 5-0 EMWD board vote and a 4-0 financing authority board vote. The Western Riverside Water and Wastewater Financing Authority board consists of two EMWD board members and two Rancho California Water District board members.
“I’m very excited for this opportunity,” Thomas Hays, senior financial manager of EMWD, said. “It’s a great opportunity to save property owners a considerable amount of money.”
The creation of a community facilities district allows bonds for infrastructure to be repaid through assessments on property. The