February 03, 2026
April 7, 2026 Revenue Bond Information
$15,000,000
Waterworks Revenue Bond
On April 7th, 2026, you will have the opportunity to voice your opinion on a crucial matter that directly impacts our Water District. Our District is asking you to vote on $15,000,000 in waterworks system revenue bonds. This funding aims to extend and improve our water system. In addition to needed systemwide repairs (described below), these bonds will be leveraged to seek grants (that don’t have to be repaid) and low interest rate, long-term loans.
The bonds will play a pivotal role in enhancing and expanding the existing waterworks system of our District and keeping us up to date with DNR standards. The amount we are voting should allow us to keep our system in good working order, and make needed repairs, for the next 2 or 3 decades.
WHY VOTE BONDS?
Our District can borrow using leases without a vote. This begs the question, “Why vote bonds?”.
The reasons are very straightforward. There are huge financial benefits to our District if our customers pass a bond issue. By Missouri law, Revenue bonds cannot ever raise your taxes.
First, with voted bonds, our District becomes eligible for matching Grants. Without voted bonds, grant funds are typically not available. Grants NEVER have to be repaid.
Second, voted bonds are eligible for subsidized interest rates. If we had voted bonds today, our 20-year fixed interest rate would be approximately 2%.
Voted bonds with subsidized interest and matching grant funds help our District improve the facility at the lowest possible costs available.
CURRENT PROJECT:
Our District has immediate needs for approximately $4,500,000 in projects. The projects are main water extensions, replacements, and looping throughout our service area as well as a new pump station. These improvements are necessary to meet the needs of current and future customers. They’ll also help ensure an adequate, clean and safe water supply. In addition, the improvements will increase system pressures while reducing long term maintenance costs. We will be replacing equipment and mains that have been in service for more than 50 years ago, and long past their expected service life.
HOW MUCH?
We’re voting enough bonds for the next 20 or 30 years. We’re also voting bonds so we can regularly pursue matching grants. Our immediate needs is $4,500,000 and we anticipate that this project will NOT raise user fees. However, if we have voted bonds, the interest cost will be significantly less now as well as in the future.
THESE BONDS CAN NEVER RAISE YOUR TAXES. Revenue bonds are paid back by user fees (our revenues).
YOUR VOTE MATTERS:
On April 7th, 2026, your vote will help determine the future of your Water District as well as the affordability of future improvements and financings. We would never instruct you on how to vote, but we strongly encourage you to consider the information provided, so you may make an informed decision that aligns with the best interests of our Water District.
Public Meeting: We will have a meeting to answer questions about this bond issue on March 17th, at 6:30PM, in the water district office in Cosby.
We hope you have an opportunity to attend.
Thank you for your active engagement in our District's future.
PLEASE VOTE APRIL 7, 2026
