FPUD approves issuance of revenue bonds

The Fallbrook Public Utility District will be funding some of its Capital Improvement Program expenses with revenue bonds.

A 5-0 FPUD board vote Jan. 22 authorized the issuance of the 2024 Water Revenue Bonds, approved the form of the financing documents, and authorized FPUD staff to finalize and execute the financing documents. The motion authorizes FPUD to issue $12 million in debt which will be repaid over a 30-year term.

On July 10, San Diego County’s Local Agency Formation Commission approved a reorganization in which FPUD and the Rainbow Municipal Water District would detach from the San...