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Council hears finance report: Reservoir 4 loan draw, sale of former Public Works building and water-rate context
Summary
The finance report noted a draw against a low-interest loan for Reservoir 4, confirmed the sale of the former Public Works building and discussed a previously passed 2023 resolution on 5% annual water-rate increases.
The Woodland City Council heard a finance report on April 21 that detailed a draw against a low-interest loan for the Reservoir 4 water project, the sale of the former Public Works building and the context for water and sewer rates.
Council Member Friend reported the vouchers included a roughly $1,300,000 draw against a loan the city took in 2023 to finance Reservoir 4. The finance committee also noted the city completed a sale of the former Public Works building for $438,000; a remaining bond on that property of $335,000 was paid from the sale proceeds, and the net funds were allocated between the sewer and water funds because the building previously supported those utilities.
The council discussion referenced a 2023 resolution that set a 5% annual water-rate increase; staff and council said they had delayed a scheduled 2024 5% increase to collect outstanding charges and were weighing whether and when to implement future increases. The council estimated a 5% rate increase would raise roughly $125,000–$130,000 in annual revenue for water and noted approximately $50,000 had been returned to the water fund in the recent accounting.
Why it matters: the voucher draw funds project work on the city’s water system; the building sale settled bond obligations and shifted proceeds to utility funds; and the water-rate resolution frames future rate decisions that affect utility customers.
No formal finance action beyond discussion and the voucher approval occurred at the meeting.
