Water bonds

Easing drought conditions are not stopping states from restricting water use and investing in future supplies.

"The lowered ratings reflect our view of the system's ongoing operational management vulnerabilities that led to an EPA administrative order and alleged violations of the Federal Safe Drinking Water Act," said S&P's Jenny Poree.

The upgrade lifts $1 billion of the Jacksonville system's water and sewer system senior revenue bonds to AA-plus from AA.

"We are looking for parity with what's in Joliet contract. That is what would successfully allow us to work with the city of Chicago and that would make that alternative the preferred alternative over a new source water project," the commission's Paul May said.

Arizona, Nevada and California announced an agreement on Colorado River water use reductions, possibly averting a more stringent federal solution.

A draft environmental report released by a federal agency could threaten California and Arizona's water supply, if the states don't reach an agreement on their own to protect the Colorado River.

Voters in several Vermont cities approved capital proposals backing wastewater system improvements.

A California conduit will price private activity bonds to replace the intakes for a San Diego County water desalination plant.

California's bond ratings are likely to escape unscathed from the atmospheric rivers that caused an estimated $646 million in damage to the state's infrastructure.

York County priced a $24.6 million deal to help recoup costs of the purchase of a private water utility that wasn't "up to par," according to county officials.