LOW-INTEREST LOANS WOULD ACCELERATE STORMWATER PROJECTS Media Advisory Contact: Christina Montoya, Vice President-Marketing and Communication 915-594-5596 (office), e-mail: cmontoya@epwu.org Date: July 21, 2009 WHAT: Public Service Board Meeting WHEN: Wednesday, July 22 8:30 a.m. WHERE: El Paso Water Utilities 1154 Hawkins Blvd. Board Room – 4th Floor   On Wednesday, the Public Service Board will consider a proposal to finance stormwater capital projects by using stimulus funding. The funding will allow El Paso Water Utilities to improve public safety by accelerating the completion of stormwater projects without increasing rates. Staff will ask the Board to start the process required to issue $53 million in Build America Bonds to finance 15 stormwater projects. The bonds would be sold to the North American Development Bank at a reduced interest rate, with the U.S. Treasury Department paying El Paso Water Utilities a 35 percent interest-rate credit. Locking in the low-cost financing would accelerate the projects and save an estimated $7.2 million over the next 20 years. The Board will also consider a proposal to finance the $2.7 million Van Buren Infiltration Basin project with bonds purchased by the Texas Water Development Board through the Drinking Water State Revolving Fund program for green projects.  The 20-year, zero-percent loan would be funded by the American Recovery and Reinvestment Act of 2009. Debt service savings are expected to total $1.9 million. EPWU Supports the Troops In other action, $28,307 will be presented to the USO to help equip a facility being built to accommodate troops coming to El Paso. The funds were raised through employee fundraising events, customer donations and a golf tournament.