Columbia OKs Electric Bond Issue
Residents will see a 1% rate increase starting Oct. 1 to pay for the bond issue.
"I voted 'yes' because we need to address those issues now rather than later," said Columbia resident Mary Jo Westwood.
Most of the money raised by the bond issue will be used to upgrade the distribution system and develop residential and commercial infrastructure. If the bond issue had failed, it would have meant a rate hike of over 12% next year alone.
The 1% annual increase in rates will continue until 2010.