A video recording of the City of Hot Springs Board of Directors work session held on Nov. 9 about the proposed issuance of waterworks revenue refinancing and construction bonds and rates, as well as charges for services rendered by the City’s waterworks system, is available online at www.cityhs.net/board-videos.
The City of Hot Springs Utilities rates for water services are currently among the lowest 17% in Arkansas, according to the Arkansas Natural Resources Commission. With the proposed $4 increase in Utilities’ water base rate, which $2 would take effect in January and $2 in November 2023, Hot Springs will remain among the lowest 25% in the state. These proposed increases would be required for the issuance of bonds to cover the cost increases of the Lake Ouachita Water Supply Project, which have occurred primarily from supply chain issues, inflation and the water line crossings of Lake Hamilton.
The Lake Ouachita Water Supply Project will provide water that is needed immediately, as peak demand has exceeded the water system’s capacity. The project would also ensure water demand needs for many years to come.