Standard-Examiner: Ogden OKs Bonds to Fix Water Pipeline

Even bigger borrowing and spending is coming up on the near horizon

The Standard-Examiner reports that the Ogden City Council last night embarked on the next stage of implementing its 2012 water rates re-set fiasco, which it meekly and ineptly approved , over substantial lumpencitizen objection, on May 22, 2012.  As a followup to borrowing a cool $1 million from the sewer fund, the Standard's Mitch Shaw reports that "[t]he city council adopted a resolution Tuesday night to issue $4.5 million in bonds to fix a century-old water pipeline that supplies Ogden with much of its water":

• Ogden OKs bonds to fix water pipeline

We forewarn that even bigger borrowing and spending is coming up on the near horizon, whereby Ogden City rate payers will be ultimately burdened by at least $13 million in additional long-term, relatively high interest rate bonding, for a project which could otherwise have been more prudently and inexpensively financed, for the most part, by simply "tapping" existing cash reserves and current revenues.

Don't let the cat get your tongues, O Gentle Ones.