A daily compilation of significant news articles and comment
October 15, 2008
2. Supply –
El Dorado Irrigation District delays several projects
Sacramento
By Cathy Locke
The snowballing credit crunch has hit an
Citing the shortage of credit, the El Dorado Irrigation District last week delayed several projects, including replacing a nearly 30-year-old water tank for the rural community of Rancho del Sol southeast of Camino.
The district, which serves approximately 100,000 customers in western
It had worked hard in recent years to improve its bond rating, and last week Standard & Poor's announced it was upgrading the district's rating to A-plus, Kloepfer said.
"Not that it does us any good," she said. "There's no money to borrow."
The uncertain financial climate led the board to postpone authorizing approximately $530,500 in funding for three projects and a specialized maintenance truck.
The affected allocations included $200,000 to complete environmental and design work to replace the water tank. The total project cost is estimated at a little more than $1 million.
Residents say the 63,000-gallon tank installed in 1980 can't meet the 124-home community's current needs and ensure adequate flows for fire hydrants.
The district had planned to replace it with a 330,000-gallon tank in 2009.
A power outage last winter shut down pumps that replenish water in the storage tank, leaving the subdivision with only about a two-hour water supply, said resident Joan Lyon.
"There would have been no water to fight a fire," she told the board.
Floyd Sims, president of the Rancho del Sol Property Owners Association board, urged the district to get started on the tank installation to resolve what residents view as a public safety issue.
District directors agreed to bring in a mobile generator during extended power outages to operate pumps, but they cautioned that the tank replacement may not occur next year.
The district's financial constraints affect not only customers, but firms that provide services to the district.
Board president George Osborne said the district also had canceled a nearly $4.6 million contract awarded in August to expand maintenance shops at its headquarters complex.
The Rancho del Sol tank replacement will be evaluated, along with other projects, during a workshop set for Friday, he said.
"If it works out and we can sell our bonds," Osborne told residents, "we will get it done next year." #
http://www.sacbee.com/eldorado/story/1314588.html
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