Columbia Water soliciting debt for capital improvements

COLUMBIA, S.C. (WIS) – COLUMBIA, S.C. (WIS) – The City of Columbia voted to approve the second reading of an $85,000,000 bond ordinance requested from Columbia Water during Tuesday’s council meeting.

Clint Shealy, assistant city manager of Columbia Water, says the bond issuance was considered during a rate study for fiscal year 2021-22. Simultaneously, a rate increase of 5.02% was effective July 1, 2021.

“You’re looking at what was contemplated to be a $120,000,000 list of projects. We cash-funded some of that work. But now they’re mature enough to go to the streets, to go to construction,” said Shealy on Friday.

These projects include the construction of a $45,000,000 alternate water supply house on Broad River. This, as well as a comprehensive waterline replacement of 80-year-old pipes in Rosewood.

“We have committed to doing these projects in our capital improvement program… we’re going to sell debt to fund the rest of that work. We don’t sell that debt until we absolutely need those dollars to execute.”

The incoming bond ordinance will not affect the current cost of water and sewage. However, city council members say rate increases are expected next fiscal year.

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