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Council briefed on water projects and credit agencies warn of risk from supply shortfalls
Summary
City managers told the council that short‑term groundwater and wastewater‑reuse projects could blunt drought risk, but rating agencies have flagged water supply uncertainty and placed the city's GO outlook on negative, tying future credit to timely project delivery.
City Manager Peter Zanoni and the city's financial adviser told the City Council that short‑term water projects must be delivered on schedule to reassure bond investors after rating firms cited water‑supply uncertainty in recent reviews. "Fitch affirmed our AA rating but changed our outlook to negative because of our water situation," the city's financial adviser, Victor Quiroga, said during the briefing.
The reminder followed a lengthy public‑comment period in which dozens of residents urged faster action on water supply and criticized prior planning. The staff presentation summarized a…
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