Title: Rio Linda/ Elverta Community Water District
Rio Linda/ Elverta Community Water District
Opus Bank’s Public Finance division provides $3.8M financing for water system improvements
Overview of Transaction
Rio Linda / Elverta Community Water District (“District”) was formed in 1948 and now provides water to over 4,600 metered connections in the area with estimated population of 14,800 people in northern Sacramento County.
The financing provided by Opus Bank (“Opus”) will fund construction of a new well with a pumping station and upgrades to an existing well that will improve the water quality of the District’s system.
Opus Bank's Role
The improvements will help the District provide better water to its customers and prepare for upcoming changes to the water quality standards proposed by the State of California.
Significance of Transaction
Opus worked closely with the District and its financing team to put together a flexible construction-to-perm financing program that is uniquely fitted with the construction schedule and optimizes District’s interest costs and provides for the most efficient utilization of fees paid by District’s customers.