Water Rates Going Up?
By: Joe Griffin
Updated: October 13, 2008
People in the Hub City could take see the current economic crisis hit their water bills in the near future. This year, the City of Lubbock is looking to sell bonds to help fund the Lake Alan Henry Pipeline.
Despite Lubbock excellent credit rating, Lubbock could see higher interest rates on those bonds of up to 5.5 percent. That's two points higher than anticipated. That means water rates could go up more than originally planned to help pay those bonds off.
Mayor Tom Martin said he hopes that the economic bailout will bring those rates down when they begin to sell the bonds.
