A rural Iowa water company has moved up a key vote in hopes of missing Thursday’s winter storm.
The Xenia Rural Water District’s board was slated to meet Thursday to pass an agreement with its insurance company, but they have moved that meeting to Wednesday night.
The agreement says the company will start paying back its debt. That will then allow the USDA to re-write Xenia’s loan dropping the interest rate.
Xenia has been struggling since 2009 when the company went broke and couldn’t pay back debts totaling more than $135 million. The water rate for Xenia customers has been increasing since, but board members hope the agreement will help level off rates.