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Nogales leaders weigh tens of millions in water and sewer costs, possible rate doubling
Summary
City officials reviewed a 2020 WIFA loan program, an updated rate study and options that could more than double residential water bills as they decide whether to borrow roughly $38 million to finish previously engineered projects and address long-term system needs.
Nogales — City officials presented a financial “bookend” analysis July 30 showing municipal decisions on a 2020 Water Infrastructure Finance Authority (WIFA) loan will shape utility rates for years.
"I started working for the city as your financial adviser ... In early 2020 the city issued its water and wastewater loans through WIFA, approximately $15,000,000 — $10,000,000 for water, $5,000,000 for wastewater," Michael Vasquez, managing director at Willdan Finance Services, told the council. "To complete the 2020 projects, the city would have to borrow an additional $30,400,000 for water, an additional $7,500,000 for wastewater — that's a total of $38,000,000."
Why it matters: Council members were told the city is already paying debt service on $15 million that produced designs and a small number of completed projects; completing the…
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