Utility

Contact
Telephone #
Web Site

Service Area/
Population

Underlying
Credit Ratings²
Moody"s/
Standard & Poors

Information
Date

Contra Costa

Karen Uston

137,127 acres/

A1

May-02

Water District

Finance Director

450,000

AA- (stable)

(CCWD)

925/688-8042

(split rating - agencies

ccwater.com

view credit significantly

Water

differently)

East Bay Municipal

Gary Breaux

325 sq. miles/

Aa2

Jul-01

Utilities District

Director of Finance

1,300,000

AA

(EBMUD)

510/287-0310

(both for subordinated

ebmud.com

debt)

Water

East Bay Municipal

Gary Breaux

325 sq. miles/

Aa2

Jul-01

Utilities District

Director of Finance

1,300,000

AA

(EBMUD)

510/287-0310

(both for subordinated

ebmud.com

debt)

Wastewater

Los Angeles

Jerry Gewe

465 sq. miles/

Aa3

Jun-01

Department of

Assistant GM for Water

3,849,000

AA

Water and Power

213/367-4333

(LADWP)

ladwp.com

Water

Orange County

Gray Streed

471 sq. miles/

Aa3

Jun-00

Sanitation District

Director of Finance

2,400,000

AA

Jun-01

(OCSD)

714/593-7550

(both for certificates

ocsd.com

of participation)

Wastewater

Orange County

350 sq. miles/

Aa

Jun-01

Water District

Finance Department

2,000,000

AA

(OCWD)

714/378-3217

ocwd.com

Water

Sacramento County

Marcia Maurer

275 sq. miles/

Aa3

Jun-01

Sanitation District

CFO

1,100,000

AA

(SCCSD)

916/876-6116

srcd.com

Wastewater

San Diego County

Karen Brust

1,420 sq. miles/

Aa3

Jun-01

Water Authority

2,650,000

AA-

(SDCWA)

858/522-6671

sdcwa.org

Water

City of San Diego

Dennis Kahlie

330 sq. miles/

A1

Jun-01

Wastewater System

2,000,000

A

(SDWS)

619/235-5832

sannet.gov/mwwd

wastewater

San Francisco

Bill Berry

4 counties

A1

Jun-01

Public Utilities

Assistant GM

2,400,000

A+

Commission

415/554-2157

Water Enterprise

sfwater.org

(SFPUC-W)

water

San Francisco

Bill Berry

49 sq. miles/

A2 (negative)

Jun-01

Public Utilities

Assistant GM

700,000

A (negative)

Commission Clean

415/554-2157

Water Enterprise

sfwater.org

(SFPUC-CW)

Santa Clara Valley

Sharon Thompson

1,300 sq. miles/

Aa3

Jun-01

Water District

1,700,000

AA

(SCVWD)

418/264-2600

scvwd.dst.ca.us

Water

Utility

Utility
Rate Setting
Authority

Bond Issuance
Authority 

Outstanding
Debt
(millions)

Outstanding
Debt
Per Capita

Capital
Improvement
Program
(millions)

Debt Service
Coverage
Covenant/
Actual¹

Contra Costa

CCWD Board of

Voter approval

$548.10

$1,218

$293.40

CCWD net revenues

Water District

Directors

required for new bond

utility revenue

10-year plan

must equal 1.25x

(CCWD)

issues; CCWD

bonds

annual debt service.

Board of

FY 2001 actual

Water

Directors approval for

coverage was 2.02x

refunding bond issues

(CCWD"s practice is to

issue commercial paper

which does not require

voter approval and

take it out with

refunding bond issues)

East Bay Municipal

EBMUD Board of

Voter approval not

$1257.60 water

$967

$913.10

EBMUD sub. water

Utilities District

Directors

required. EBMUD

subordinate debt

FY2002-FY2006

revenues plus sr. debt

(EBMUD)

Board of Directors

service must cover all

debt service by 1.1x.

Water

FY 2001 actual

coverage was 2.25x

East Bay Municipal

EBMUD Board of

Voter approval not

$252.73 wastewater

$194

$59.00

EBMUD subordinated

Utilities District

Directors

required. EBMUD

subordinate debt

FY2000-FY2004

wastewater

(EBMUD)

Board of Directors

revenues plus sr. debt

service must cover all

Wastewater

debt service by 1.1x.

FY 2001 actual

coverage was 1.67x

Los Angeles

Per Charter,

Voter approval not

$1,043.73 water

$271

$2,000.00

LADWP revenues

Department of

City Council

required. LADWP

revenue bonds

FY1996-FY 2006

must cover all debt

Water and Power

approves rates

Board of

service by 1.25x.

(LADWP)

set by LADWP

Commissioners

FY 2001 actual

coverage was 3.6x

(new indenture will

allow for "sufficient"

Water

coverage")

Orange County

OCSD"s Board of

Voter approval not

$384.00

$160

$1,530.00

OCSD revenues must

Sanitation District

Directors sets rates

required. Board of

Certificates of

through 2020

cover debt service

(OCSD)

Directors issues COPs

Participation

by 1.25x. FY 2000

actual coverage was

Wastewater

2.4x

Orange County

OCWD"s Board of

Voter approval not

$235.02

$117

$212.00

OCWD revenues must

Water District

Directors sets rates

required. Board of

Certificates of

through 2020

cover debt service

(OCWD)

Directors issues COPs

Participation

by 1.25x. FY 1999

actual coverage was

Water

2.23x

Sacramento County

SCCSD"s Board of

Voter approval not

$637.25

$579

$842.00

SCCSD net revenues

Sanitation District

Directors sets rates

required. Board of

Revenue Bonds

five-year

less interest must

(SCCSD)

Directors issues

& Certificates of

cover debt service by

revenue bonds

Participation

1.2x. FY 2001 actual

(through Financing

coverage was 2.5x

Wastewater

Authority)

San Diego County

SDCWA"s Board of

Voter approval

$505.95

$191

$1,200.00

SDCWA revenues

Water Authority

Directors sets rates

required. Board of

Certificates of

FY1999-FY 2011

must cover

(SDCWA)

Directors issues

Participation

debt service

Certificates of

service by 1.2x.

Participation

FY 2001 actual

(commercial paper does

coverage was 2.1x

not require voter

Water

approval)

City of San Diego

San Diego City

Voter approval not

$1,134.20

$567

$919

SDWS revenues

Wastewater System

Council and Mayor

required. System

Certificates of

through FY2006

must cover

(SDWS)

issues certificates of

Participation

debt service

participation

service by 1.2x.

FY 2001 actual

wastewater

coverage was 2.1x

San Francisco

Commission and

Voter approval

$369.70

$154

$3,625.00

SFPUC-W net

Public Utilities

Board of Supervisors

Rate freeze through

water revenue

FY2003-FY2015

revenues plus

Commission

FY 2006

bonds

fund balance must

Water Enterprise

exceptions

equal 1.25x annual

(SFPUC-W)

debt service. FY2001

actual coverage was

water

4.2x

San Francisco

Commission and

Voter approval

$397.00

$567

$996.00

SFPUC-CW net

Public Utilities

Board of Supervisors

Rate freeze through

sewer revenue

FY2005-FY2017

revenues plus

Commission

FY 2006

bonds

fund balance must

Clean Water

exceptions

equal 1.25x annual

Enterprise

debt service. FY2001

(SFPUC-CW)

actual coverage was

wastewater

2.6x

Santa Clara Valley

Board of Directors

Voter approval not

$279.00

$164

na

SCVWD revenues

Water District

required. Board

utility revenue

must cover annual

(SCVWD)

of Directors

bonds

debt service by 1.25x.

FY 2001 actual

coverage was 4.5x

water