top of page

WWIF Program

Water, Wastewater Infrastructure Financing for public agencies. 

Water & Wastewater Infrastructure Financing

CalMuni PFA provides turnkey tax-exempt revenue bond financing for water and wastewater projects in the State of California. With a devoted team of professionals singularly focused on helping agencies successfully navigate the financing process, we help you save time and money.​

About the WWIF Program

Water Bonds

CalMuni PFA is statutorily authorized to issue water and wastewater revenue bonds on a stand-alone or pooled basis. By pooling funding with other agencies, cities, counties, towns, as well as water, sanitation, and irrigation districts can lower their costs of issuance and may be able to achieve better interest rates.

Bridge Loans

Weist Law LLP is counsel for CalMuni PFA and has worked with the authority to develop a bridge loan financing program. These bridge loans will provide financing in the interim until other funds are received.


CalMuni PFA can issue bond anticipation notes ("BANs") and use the proceeds to fund loans to public agencies while they are awaiting funds from other sources. Utilizing CalMuni PFA allows for lower interest rates than any other alternative financing structure available.


The bridge loan can cover all costs of issuance, engineering fees, and the entire cost of the project. The bridge loans will be structured as interest-only repayment and that interest repayment can be capitalized into the main loan.

Some notable benefits of utilizing bridge funding in your water/wastewater project include: 

  • Expedite repair, rehabilitation, or replacement of treatment, collection, or distribution systems;

  • Attain compliance with applicable federal or state regulatory requirements;

  • Preserve agency reserves for other purposes;

  • Meet applicable local service levels;

  • Address public health or environmental emergencies.

Biological Purification

CalMuni PFA Advantage

Expert Consultants

Benefit from the availability of expert consultants at no extra cost to you. From the time of an inquiry, you will be paired with localized bond counsel and a municipal advisor for specialized consulting on financing your project needs. 

Finance 100% of project

The WIFF Program can finance a variety of public infrastructure projects with a range from $500,000 to $10,000,000 or higher depending on the project needs.

Low Cost of Borrowing

CalMuni PFA and the WIFF Program provide diversity to investors and economies of scale to its participants which will, in turn, translate into competitive interest rates and lower costs of borrowing.

Public Agencies Benefit

Local agencies benefit because the our experts regular work with SRF, USDA, WIFIA and DOE to ensure that all possible subsidy opportunities are vetted and executed as part of the comprehensive financing plan.

Ratepayers Benefit

CalMuni PFA works closely with each agency to ensure that financing costs (interest rates and loan costs) are  the lowest attainable. These savings ultimately get passed along to ratepayers.  

bottom of page