FOR IMMEDIATE RELEASE

Engage and Educate: May’s McCall Water Bond Will Impact Monthly Water Bills

McCall, Idaho - April 19, 2024 - The McCall City Council placed an essential water revenue bond totaling up to $16.5 million on the May 21st ballot. This election presents a crucial choice for voters on how the city will fund required treatment facility renovations and storage improvements. These upgrades will allow the City to meet increased water demand, comply with federal regulations, and enhance protection against wildfire.

“Please get engaged and participate in this upcoming election. The water bond will directly impact our water customers inside McCall City Limits. It is crucial for every McCall resident voter to be aware of the potential outcomes,” added Mayor Bob Giles.

Voting YES on the water bond will lead to an increase of approximately $3.00 per month for the average residential water customer. However, this decision ensures that rate increases remain affordable and predictable. By issuing a bond, the cost of improvements is spread over current and future water users.

On the other hand, voting NO could result in a rate increase of 100% or $75 per month for the average residential water customer, lasting at least three years. Rejecting the bond means paying for improvements with cash, placing the burden solely on current water customers.

To help voters make informed decisions, the City has compiled commonly asked questions (FAQs) for review. These FAQs, along with additional information, flyers, and video explanations, are available on the bond website. Visit https://engagemccall.com/waterbond to access these resources.

Important Dates for Voting:

Election Day: May 21, 2024
Early Voting: May 6th - May 17th
Absentee Request Deadline: Last Day May 10th

Pursuant to an ordinance adopted on February 22, 2024, by the City Council of the City of McCall, Valley County, Idaho (the “City”), there will be a special municipal bond election held between the hours of 8:00 a.m. and 8:00 p.m. on May 21, 2024, in the City regarding the City’s proposed issuance of water revenue bonds in an amount not to exceed $16,500,000 for the purposes of improving water quality by funding improvements to certain treatment and storage facilities of the City’s water system.

The interest rate anticipated on the proposed bonds based on current market rates is 3.83% per annum. The total amount to be repaid over the life of the proposed bonds, principal, and interest, based on the anticipated interest rate, is estimated to be $24,136,750, consisting of $16,500,000 in principal and $7,636,750 in interest. The estimated average annual cost to the taxpayer of the proposed bonds is a tax of $0.00 per $100,000 of taxable assessed value, per year, based on current conditions. The proposed bonds will mature within twenty (20) years from the date of each series of bonds. The total existing indebtedness of the City, including interest accrued as of May 21, 2024, is $3,485,911. The total existing indebtedness of the City’s Water Fund, including interest accrued as of May 21, 2024, is $0.