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| Stinson Beach County Water District |
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Stinson Beach County Water District provides water and wastewater utility services to about 700 customers in the unincorporated community of Stinson Beach, California. The community's proximity to the Pacific Ocean and the coastal environment has caused rapid deterioration of some District facilities. In late 1997, several of the District's water storage tanks were in critical need of rehabilitation. |
| In early 1998, the District Board elected to borrow $1.1 million through the ABAG Water and Wastewater Revenue Bond Pool. The proceeds were used to fund tank improvements and to refinance three existing obligations. By using the Pool, the District was able to share its financing costs with other agencies and at the same time qualify for bond insurance. The resulting AAA-rated pooled revenue bonds were very well received by investors and the District achieved a $44,000 present value savings on its refinanced debt. |  |
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