California Borrows $500 Million For Oroville Dam Work

OROVILLE, Calif. (AP) – California is borrowing up to a half-billion dollars to pay for repairs to the badly damaged spillways at the nation’s tallest dam.

The state treasurer’s office said Monday that California water officials obtained a $500 million letter of credit last week for the Oroville Dam repairs.

Heavy water this winter tore giant craters out of both spillways at the half-century-old dam, forcing the evacuation of 188,000 people. The state Department of Water Resources is rushing to repair the main spillway before the next rainy season.

Trump announced $274 million in funding for Oroville Dam repairs last month. State officials have not provided a repair cost estimate so far but said Monday they have asked the federal government to pay 75 percent.

Repairs are expected to take two years.

 

Copyright 2017 The Associated Press.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS13 | CBS Sacramento

Get Our App
Get The CBS Sacramento Weather AppGet the latest radar, CBS13 AppCasts and hour-by-hour forecasts. You can also send your weather pics.

Watch & Listen LIVE