Reference Info. » Water Rescue Bonds

Water Rescue Bonds – These are the bonds (Not a tax) to acquire the Golden State Water Company operations in Ojai. The cost to re-pay these bonds plus the cost of water is estimated to be less or equal to what Ojai Golden State rate payers pay Golden State for water today (see Summary flyer or Feasibility Study).

After the bonds are paid off, Ojai rate payers served today by Golden State will see a significant drop in their total cost of water, which will then be more in line with what others in the area pay, such as those served by the Casitas Municipal Water District.

There most likely will be two bonds. Both are expected to be voted on at the same time by Ojai Golden State rate payers. One will be to pay for the election and eminent domain court action, which could be avoided if Golden State would agree to sell as stated in the Franchise Agreement with the City of Ojai, and the other will be used to actually purchase the Golden State operations in Ojai at a price set by the court or agreed by Golden State, whichever is less.

The specifics of the bonds will be known after all of the details have been worked out and a special election is announced. In the meantime, remember that Water Rescue Bonds are needed to rescue us for the excessive continually increasing water rates charged by Golden State Water Company.

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