Asotin County PUD now debt free

The Asotin County Public Utility District is celebrating a major milestone.

General Manager Tim Simpson said the board is pleased to announce the final payment has been made on a low-interest $1.49 million Washington State Public Works Trust Fund Loan, which was secured in 2000 to pay for capital improvements to the district’s water system.

“It’s a good feeling to know that we have been fiscally responsible with public funds and were able to retire our debt,” Simpson said in a news release.

Earlier this month, Simpson was able to surprise the board with the final payment, which wasn’t due until July. The elected board members — Commissioners Judy Ridge, Don Nuxoll and Greg McCall — were “very happy,” he said.

“With this final payment of the Public Works Trust Fund Loan, the PUD is now debt free,” Ridge said. “This is a major milestone for the PUD and the customers we serve. We are financially strong, have the lowest rates in the region and are paying for system improvements on a cash basis.”

Simpson said it is unusual for a publicly owned agency to be debt free. “The PUD is self-sustaining with its utility rates and doesn’t tax its patrons,” he said.

According to the general manager, the PUD has adequate reserves and solid financial and capital improvement plans in place. In addition, the district is continually working to replace older water mains to improve the reliability of the system.

The Asotin County PUD has approximately 7,200 water customers and serves close to 20,000 residents in the city of Clarkston and unincorporated areas of Asotin County.

Since its formation in 1984, the district has added electric and wastewater services. The PUD also owns and operates the water and wastewater systems in the Port of Wilma and contract operates the city of Asotin’s water system.

Sandaine may be contacted at kerris@lmtribune.com or (208) 848-2264. Follow her on Twitter @newsfromkerri.