From the City of Aurora via The Denver Post:
Looking to capitalize on historic-low bond rates, Aurora Water on Thursday sold $437 million in bonds toward re-funding debt associated with its Prairie Waters Project, making it the largest municipal bond issue in the state this year.
With a net savings of $68.6 million, the issue consolidates two other issues and a state loan, water department officials said in a news release.
The Prairie Waters Project was completed in 2010 at a cost of $637 million. It recaptures water Aurora already owns in the South Platte River, beginning in Weld County, and makes full use of Aurora’s mountain and agricultural water rights, increasing the city’s water supply by up to 12 million gallons per day. The water comes from 23 wells that use a riverbank filtration process, pulling water through hundreds of feet of sand and gravel to remove impurities.
The bonds were offered on July 20 and July 21, with first priority given to Colorado residents and businesses.