Why has the bond amount changed from $55 million to $135 million?


After they declined to accept the CAWA/GSW MOU, the Council expressed willingness to continue talks. On July 31, they voted to enter into an agreement with GSW to resolve some issues. One of the terms of the agreement was that the City measure would ask for approval to issue up to $135 million in revenue bonds. GSW hopes this will frighten people into voting ‘no’ on the bond measure even though 80 + 55 always added up to 135. It is not yet known how much more than the appraised value of $55 million we will actually need.

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