July 1, 2013 Regular Mtg - City of Anoka

WATER FUNDThe water fund has some major capital improvement projects within the next ten years toimprove water distribution and storage. Water utility rates were increased in 2011. Thenext rate increase is projected to be 2015. In 2015, Well #1 is anticipated to needrehabilitation. This is projected to cost about $1.2 million. In 2001 a revenue bond wasissued to cover water infrastructure costs. This bond was refunded in 2009 to reducecosts. The refunded debt will be paid off in 2017. At that time the water fund cash flowwill greatly improve. If a new well is required in the future, water revenue bonds mayneed to be issued to fund that type of improvement.20 167 of 360