Amador County – The board Thursday also approved internal loans of $2.3 million, including $1.6 million from the Amador Water System and another $700,000 from the Martell wastewater account. The loans go to 4 other water or wastewater systems operated by the AWA, and interest on the loans will be base on new financial plans approved for the systems, based on one approved for the Central Amador Water Project system. The loan interest will be reassessed on past loan amounts, and be based on the LAIF index, but cannot fall under 2 percent. LAIF is currently below 1 percent. Different amounts, both retroactively and in the future, will be based on several indexes over the last several years, as compiled by Finance Manger Mike Lee. The internal loans from the Amador Water System include $800,000 to Lake Camanche Water District Number 7; another loan of $600,000 to Wastewater District 1; and $200,000 to La Mel Heights Water System. The board also approved a loan of $700,000 to Lake Camanche Wastewater District 11, with a loan and transfer of funds from the “Martell Wastewater Replacement Reserve Account.” Resolutions memorializing the loans said that the agency intends the loans to be repaid through “rates, charges, assessments, and/or standby assessments or charges imposed on customers and lands” within each district’s service area. Unpaid balances will re charged variable interest based on the plan devised for CAWP. Mancebo said the board Thursday also pushed back by a year a groundwater study at Lake Camanche. He said if it begins to become a risk to receipt of a grant for that study, it would be brought back before the board. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.
Tuesday, 27 April 2010 06:04
AWA Approves $2.3M In Internal Loans
Amador County – The board Thursday also approved internal loans of $2.3 million, including $1.6 million from the Amador Water System and another $700,000 from the Martell wastewater account. The loans go to 4 other water or wastewater systems operated by the AWA, and interest on the loans will be base on new financial plans approved for the systems, based on one approved for the Central Amador Water Project system. The loan interest will be reassessed on past loan amounts, and be based on the LAIF index, but cannot fall under 2 percent. LAIF is currently below 1 percent. Different amounts, both retroactively and in the future, will be based on several indexes over the last several years, as compiled by Finance Manger Mike Lee. The internal loans from the Amador Water System include $800,000 to Lake Camanche Water District Number 7; another loan of $600,000 to Wastewater District 1; and $200,000 to La Mel Heights Water System. The board also approved a loan of $700,000 to Lake Camanche Wastewater District 11, with a loan and transfer of funds from the “Martell Wastewater Replacement Reserve Account.” Resolutions memorializing the loans said that the agency intends the loans to be repaid through “rates, charges, assessments, and/or standby assessments or charges imposed on customers and lands” within each district’s service area. Unpaid balances will re charged variable interest based on the plan devised for CAWP. Mancebo said the board Thursday also pushed back by a year a groundwater study at Lake Camanche. He said if it begins to become a risk to receipt of a grant for that study, it would be brought back before the board. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.Latest from
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