Plains town council to propose water rate changes

PLAINS - This week, the Town of Plains released a notification to residents the oncoming water rate changes proposal meeting later this month. It was stated in the information sheet, which was sent to residents via the Postal Service, that on Feb. 4, 2013 at the monthly council meeting, the council adopted a ‘Resolution of Intention to Change the Structure for Rates and Charges for the Users of the Town’s Water System.’

“The Town is refinancing the existing balance of its $256,000 Water Revenue Bond, Series 2006 through the issuance of a $170,000 Water Revenue Refunding Bond and is constructing water system improvements consisting of replacement of certain transmission and water mains and the installation of meters within the Town (the “Project”) and has a commitment of $600,000 to purchase two water revenue bonds of the Town to provide funds to pay for the Project, of which $300,000 may be forgiven and $300,000 of which will not be forgiven. The Town Council intends to increase water rates to pay for the loan,” the statement reads.

On February 19, at 6:30 p.m. at the Plains Town Hall, the Council will conduct a public hearing on the proposed water rate increase. Comments may be given orally at the meeting or submitted in writing to the Town Clerk at P.O.> Box 567, Plains, MT 59859.

See a full copy of the Resolution, including base rates and multiplier tables at www.vp-mi.com.