LAYTON — The public will have a chance to weigh in on Weber Basin Water Conservancy District’s plan to issue water revenue bonds Thursday morning.
The hearing will be held at 9 a.m. on Thursday, Feb. 20, at the board’s regular meeting place, located at 2837 E. Highway 193 in Layton. It will last as long as required for comments.
The district plans to issue about $2.7 million in water revenue bonds in order to acquire and install meters on secondary water in south Davis County, said Tage Flint, general manager and CEO of the district, which is the regional wholesaler of water for Davis Weber, Morgan, Summit and part of Box Elder counties.
The effort is part of the district’s water conservation plan, Flint said. After the meters are installed, residents will be issued reports on their water use. Just issuing these reports to make people aware reduces their water use, Flint said, even without charging per gallon for the water.
Historically, secondary water has not been metered because it contains debris, but improvements in metering technology have made it possible to meter secondary water, Flint said. The district has gradually installed secondary meters around its service area.
The water revenue bonds are different from the bonds people usually associate with public entities.
“This is not a public-sold bond like you normally see ... this is actually a loan from the Utah State Division of Water Resources,” Flint said. “And the way they do that with the large ... entities is to actually go through a bond process to secure the loan.”
The loan comes with a low interest rate of only 1%, Flint said. The bonds will not by paid for with tax dollars, but will be covered by the district’s revenue from its water rates, he said.