Rancho California Water Disrict’s finance and audit committee voted Thursday, Oct. 1, to recommend that the utility’s board of directors approve the 2020 bond issuance of legal documents to refund a portion of 2016A and 2016B bonds.“As I mentioned, this refinancing is all about refunding a portion of our 2016 A and B bonds,” Richard Aragon, assistant general manager of Rancho Water, told the committee. “This has all come about mostly because of COVID-19, us trying to make something positive out of something very negative.“When the federal reserve essentially lowered the rates to about zero back in March that put us into a historic low interest rate position. Again, at least that’s the way it’s been the last few months, and we’re now in a position to refund tax exe
