Walden’s Ridge Utility District announced Monday they have entered into a long-term contract for Hixson Utility District to be the sole provider of water for its customers. Prior to this contract agreement, WRUD produced water from wells in the Falling Water area in addition to purchasing water from Tennessee American Water Company.
WRUD provides service to more than 3,100 mostly residential customers in the town of Walden and portions of the town of Signal Mountain, Sequatchie County and Hamilton County on the Cumberland Plateau. WRUD also provides water to Lone Oak Utility District and Suck Creek Utility District.
"We have worked very hard over the years to build a district worthy of our friends and neighbors,” said Walden’s Ridge Utility District President Frank Groves. “We recognize the responsibility to our customers to provide water at the lowest possible rate."
WRUD was awarded a credit rating of AA-, allowing the utility to receive a bond issue for improvements to its infrastructure and overall service.
"We are proud of our new credit rating and the fact that we will now achieve lower rates of interest in association with our debt,” said WRUD Commissioner Bob McKenzie.
Hixson Utility District, which produces water from underground aquifers, provides service to more than 20,000 customers throughout parts of Chattanooga and a portion of northern Hamilton County.
"We have been strategic with our approach to the continued growth of the district and our infrastructure,” said WRUD Commissioner David Fulton.
"We will now continue to focus on initiatives to improve operational efficiency, enhance customer service levels and work toward future upgrades,” added WRUD General Manager Ron West.
Kidwell & Company, of Brentwood, Tenn., provides municipal advisor services to the district and was instrumental in helping the district achieve the new credit rating which will save the district hundreds of thousands of dollars in interest expense over time, said officials.