Albuquerque Journal (Albuquerque, NM)

Growth, Revenues Linked.

Byline: Miguel Navrot Journal Staff Writer

Water Deficits Loom Over City

The latest blow to Santa Fe's troubled water utility, news of an estimated $3.4 million deficit lingering from operations and expenses last year, could cause officials to rethink informal plans discussed earlier this year to crimp growth.

Sangre de Cristo Water Co., which the city purchased in 1995 with $78 million in bonds, isn't meeting revenue projections bond holders had expected. The revenue shortfall and expenses to replace aged infrastructure combined for the multimillion dollar deficit.

"They are very concerned," Finance Director Kathryn Raveling said Tuesday of bond insurers monitoring the activity of the city's water company. …

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