Long-Term Debt

Monterey One Water’s long-term debt, excluding pensions, is shown below. The Agency’s bonds were rated A+ by Standard and Poors and Aa3 by Moody’s.

Bond IssuePurpose of Bond
2003 United States Bureau of Reclamation (PDF)
Funded improvements for the Salinas Valley Reclamation Project
2012 Pension Bonds (PDF)
Retired employee’s previous side-fund liability with CalPERS
2013 Infrastructure Bonds (PDF)
Refunded the 2003 Infrastructure Bonds at a lower rate
2017 State Revolving Fund Loan (PDF)
Funded construction of the Pure Water Monterey project
2020 Line of Credit (PDF)
Provided short-term funding for capital improvement projects
Energy / Vehicle Leases (PDF)
Used to fund vehicles and the lighting retrofit program