Rancho Water’s finance committee pushes bond refunds to board

The finance and audit committee of the Rancho California Water District meets Thursday, Oct. 1, via teleconference. Valley News/Courtesy photo
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
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