Mansfield To Save $800,000 Over 10 Yr Bond For Water Meter Replacement Plan

The City of Mansfield will save around $800,000 over the 10 year bond for it's water meter replacement plan, thanks to Finance Director Lynn Stewart, who got a lower interest rate of 2.1%. The city first thought it would save around $250,000 with a 3.4% interest rate. The $17 million project will see new meter's installed beginning in September and should take 18 months to install.

Councilman Cliff Mears told WMAN News, Mansfield pumps over 9 million gallons of water a day, but was only billing for just under 4 million, due to the old meter's.

Right now, Mansfield is losing $100,000 in revenue per month with the old meter's.