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Coldwater OKs water and sewer rate increases to shore up cash and debt coverage
Summary
City council approved a 3.9% increase to water rates and a 3.5% increase to wastewater rates effective July 1 after a cost-of-service study showed falling cash balances and debt-coverage pressure ahead of planned plant work.
The Coldwater City Council voted to increase water rates by 3.9% and wastewater rates by 3.5%, effective July 1, following a presentation from city staff on utility finances and upcoming capital needs.
Paul, a staff member presenting the study, told the council, “I am here to present tonight, water and wastewater increases.” He said the study examined operating cash balances and debt-coverage ratios and modeled scenarios with and without rate changes. The presentation showed the city’s operating cash target for utilities at roughly…
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