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WATER REVENUE BOND

 

On May 21st the City of Payette will be asking the citizens to approve a 3.6-million-dollar municipal revenue bond. Currently the City of Payette has a 400,000-gallon reservoir that was built in the 1920’s. Due to the deterioration of the structure, open to the elements and the possibility of water contamination, the reservoir was taken offline in August 2023. For the city to continue to provide customers with adequate water supply and fire protection in the future, the reservoir must be replaced. Receiving authorization from the citizens to acquire a 3.6-million-dollar debt, securing funding, awarding a contractor, and finally completing construction of the new reservoir is a long process, from start to finish we are estimating completion sometime in 2026 or 2027. The city will utilize every resource available to reduce the debt amount to be bonded. Currently we are applying for Grants through DEQ and possibly have some resources available within our own coffers to put towards the project. This Bond does “not” raise property taxes. The annual Bond payment is paid from revenue received from Water Base Rates, Water Consumption Rates, and Water Connection Fees. The city will be holding another open house in the very near future. We will also be speaking at different venues to answer questions and provide information. If you have any questions, please feel free to contact Payette City Hall Monday – Friday 9am – 5pm.