Commentary by Larry Stein
The Oxnard City council is about to approve the refinancing of $40,000,000 of Water Bonds.
I wish to inspect the public documents that reflect the expenditures that was paid by the original debt.
I wish to know how much of the proceeds was used to benefit the non-potable users and how much of the proceeds was used to benefit potable water users. The non-potable water users are paying a de minis amount towards debt service on all water bonds. Debt service is paid by the meter fee (based on the size of pipe).
I am of the opinion the General Fund should pay all debt service on all water bonds until the city blends the output of the AWTF into the general water supply. Per Prop 218, the potable water users should not be paying debt service on bonds that solely benefit the non-potable water users. It is my belief that the users of non-potable waters are using less than 3,000-acre feet of water per year. The AWTF is currently designed to generate 7,000-acre feet of non-potable water. The users of non-potable water are paying less than 1% of the debt service of the bonds that built the G R E A T Program. The users of potable water are paying the debt service of the bonds that built the G R E A T Program but are not getting a direct benefit. The G R E A T Program became operational in September 2012.
Lawrence Paul Stein