Investor Relations
The Great Lakes Water Authority is committed to the highest level of transparency for our partners, investors, employees and other stakeholders. This page contains information specifically of interest to investors.
For more information, please see GLWA’s Bondlink Investor Relations site. Financial information can be found on the Finances page and key operational information is found in the CEO’s Report.
GLWA NOW IN AA-RATED CATEGORY BY ALL THREE BOND RATINGS AGENCIES, EXECUTES SUCCESSFUL BOND TRANSACTION TO SECURE FUNDING FOR REGIONAL WATER AND WASTEWATER SYSTEM IMPROVEMENTS; GARNERS MONEY-SAVING REFUNDING
GLWA is now AA-rated credit category by all three bond rating agencies. Successful bond transaction will provide $250 million in new funding for regional water and wastewater system capital improvements. Innovative tender refunding generates $46 million of cash flow savings ($29 million of present value savings)
INDEPENDENT REGISTERED MUNICIPAL ADVISOR DISCLOSURE CERTIFICATE
Pursuant to Rule 15Ba1-1 (the “Municipal Advisor Rule”) of the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Act”), the Great Lakes Water Authority (“GLWA”) has retained an independent registered municipal advisor. GLWA is represented by and will rely on its municipal advisor Public Financial Management, Inc. to provide advice on proposals from financial services firms concerning the issuance of municipal securities.
Master Bond Ordinance Flow of Funds
A depiction of how revenues are applied to financial commitment is presented in this easy-to-read flow chart.
Master Bond Ordinances
The GLWA Board has adopted a Master Bond ordinance (“MBO”) for both the Water System and Sewage Disposal System. The MBOs are key documents for understanding bond issuance and the pledge of revenues to repay the bonds.
GLWA's Foundational Agreements
A series of key legal documents support GLWA's daily operational and financial activities.
GLWA Official Statements
Below are the Great Lakes Water Authority's official statements related to its water and sewer bonds.
City of Flint Service Agreements
In December 2017, GLWA, the city of Flint, the Genesee County Drain Commissioner’s Office (GCDC), the state of Michigan and the Karegnondi Water Authority (KWA) finalized an agreement that would allow GLWA to provide the city of Flint with source water of unquestionable quality. It also ensures there is system redundancy for GLWA’s member partners by leveraging existing public investments.
About the Great Lakes Water Authority
Find out what we’re all about – including our history, mission and some of the people who are making it happen.