BBARWA Refinances, Saves Money

Big Bear, Ca, October 27, 2011, 12:00pm – At the October 26^th regular meeting of the Big Bear Area Wastewater Agency Board of Directors, board members approved the refinancing of the agencies outstanding debt. The refinancing will save BBARWA an estimated $557,000 and include interest savings from not having to borrow $606,000 to conduct a total replacement of the Lake Pump Station. BBARWA’s Finance Manager Jennifer McCullar oversaw the project, and was responsible for the groundwork that was done on refinancing the debt. The lower debt service will improve the agencies debt service coverage and reserve debt capacity for future capital projects, which is definitely good news.