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Learn about West Basin Municipal Water District Bonds, including Featured News and The Team.
West Basin Municipal Water District is a wholesale water agency that provides imported drinking water to 17 cities and unincorporated areas of Los Angeles County throughout its 185 square mile service area. An innovative public agency, West Basin is a recognized leader in the production of recycled water, conservation and education programs.
West Basin was created by a vote of the people in 1947 to reduce groundwater overpumping and to make local water supplies more reliable through new sources of water. In 1948, West Basin became a member agency of Metropolitan Water District of Southern California and began wholesaling imported water from the Colorado River.
In the major drought of the late 1980s and early 1990s, West Basin’s visionary Board of Directors led the agency in developing new local water supplies that include wastewater recycling for irrigation and industrial use, and implementing effective conservation programs.
West Basin currently manages a diverse water supply portfolio that includes imported water from the Colorado River and Northern California, locally-produced recycled water, desalted groundwater and conserved water. Additionally, West Basin is researching ocean water desalination as a drought-proof supply of drinking water.
West Basin remains committed to being an innovative leader in the water industry by exploring new methods and technologies that enhance reliability in the region’s water supply.
Issue: Refunding Revenue Bonds, Series 2016A; Rating: Aa2; Rating Type: Underlying LT; Sale Amount: $112,425,000; Expected Sale Date: 10/05/2016; Rating Description: Revenue: Government Enterprise;
Summary Rating Rationale
Moody's Investors Service has assigned an Aa2 rating to West Basin Municipal Water District's (CA) senior lien Refunding Revenue Bonds, Series 2016A totaling approximately $112.4 million. We have also affirmed the Aa2 rating on the district's other outstanding senior lien revenue bonds including the Refunding Revenue Bonds, Series 2012A, Series 2011A, and Series 2011B. In this rating action, we have also affirmed the Aa3 rating on district's subordinate lien 2008B Refunding Revenue Certificates of Participation.