FPUD will use rate rebate to reduce loan on local river project

FALLBROOK – The Fallbrook Public Utility District Board of Directors voted to use a $909,412.67 refund from the San Diego County Water Authority to reduce the loan on the Santa Margarita River Conjunctive Use Project.

The reduction in debt will save the district approximately $40,000 per year for the next 30 years. It will also result in a savings of $275,000 in interest expenses on the loan.

The April 26 FPUD board vote was unanimous.

The Water Authority recently received a $44.4 million rebate from its wholesaler,

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