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Council asks for numbers on internal loan interest as water fund borrows from sewer fund
Summary
Councilors discussed how much interest the city should charge internally when the water fund borrows from the sewer fund and requested more numerical analysis to understand future impacts on water rates.
City Manager Eric Underwood raised the current Local Government Investment Pool (LGIP) rate on deposits and opened discussion about what interest rate should be charged internally when the water fund borrows from the sewer fund. Councilors said they wanted more detailed numbers before the next meeting so they could understand the potential effect on water rates.
The discussion produced no motion or vote; members requested staff prepare figures to model how various internal interest assumptions would change future water rates and bring the analysis back at the next council meeting.
