THE Cagayan de Oro Water District (COWD) announced plans to issue bonds to finance its rehabilitation efforts, a move approved by the Local Water Utilities Administration (LWUA) and guided by the Securities and Exchange Commission.
Interim General Manager Fermin Jarales confirmed last week that the bonds would be open for investment by both government and private entities.
“Makuha nimo ang imong investment in 10 years. We will agree on the interest,” Jarales said.
The initiative aims to generate funds for the district's five-year development plan, which has been submitted to LWUA.
The plan includes critical infrastructure projects such as pipeline reinforcement, construction of storage facilities, and a surface water treatment plant.
Jarales pointed out that the water district is in financial distress, describing the situation as critical.
“The finance department naghisgot sila kanato nga dili na nato mapundohan ang pag implementa sa atong kapital expenditures ug wala gyud na pondohan,” said Jarales.
He assured potential investors that the bonds are low-risk and guaranteed, with returns upon maturity.
The province of Misamis Oriental has already committed to investing one billion pesos after reviewing the district’s comprehensive development plan.
“This bond offering is a financial strategy to address our challenges and ensure the district’s sustainability,” Jarales added.
