The Sept. 24 article “Water utility to seek another rate increase” says this is needed to “pay tens of millions in fees to extract itself from variable rate bonds that back fired last year.” The management apparently made an investment that paid interest based on the premise that interest rates would hold steady or go up, and apparently never considered the fact that they could also decrease.

Now they want customers to bail them out, by again increasing water rates. Instead, why not hold the bonds until interest rates return? They could probably borrow the necessary funds from their parent company or a bank, at a low rate.

I object to paying a rate increase because management made a bad decision.

Larry Palmer

Noblesville