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PUC moves to issue water bonds and advances a major Calaveras Dam contract amendment
Summary
The committee recommended authorization for near‑term PUC water revenue bond sales to fund the Water System Improvement Program and advanced a sizeable negotiated amendment to the Calaveras Dam design contract to address steelhead restoration, supplemental dam‑safety work and naturally occurring asbestos.
Public Utilities Commission (PUC) officials briefed the Budget & Finance Committee on a planned series of water‑revenue bond sales to fund the Water System Improvement Program and sought approval of contract amendments tied to the Calaveras Dam replacement project.
Todd Reedstrom and General Manager Harrington said the PUC plans near‑term sales (August/September) to minimize interest costs and meet construction cash needs. Reedstrom described two sales totaling roughly $750 million in near‑term issuance and said the structure would be 30‑year…
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