BWP Can Issue Bonds to Boost Infrastructure

First published in the Oct. 30 print issue of the Burbank Leader.

Burbank Water and Power received permission this week to issue up to $31 million in bonds to pay for upgrades and maintenance to its water infrastructure.
The Burbank City Council’s unanimous vote on Tuesday gave the go-ahead to the municipal utility, whose officials said they will also use the funds to pay off the remaining $5.5 million in loans received from the State Water Resources Control Board. Another $24 million will go toward replacing old pipes, repairing a leaky city reservoir and accomplishing other local projects. The rest will pay for the legal consultations associated with the issuance and serve as a contingency fund.
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