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Regional water district refinances bonds

Officials with Upper Trinity Regional Water District announced this week that the agency refinanced two bonds to save about $8 million in finance costs.

One bond series from 1999 was refinanced for a savings of $6 million. Another bond series, issued in 2003 for the Lakeview Regional Water Reclamation System, was refinanced for another $2 million in savings.

The regional government agency also refinanced some of its short-term debt into more favorable long-term revenue bonds.

Those cost savings are expected to be passed on to ratepayers — the customers of about 25 water utilities served by Upper Trinity. The district was created by the Texas Legislature in 1989 to meet water needs in Denton County and portions of Dallas and Collin counties.

— Staff report