The Public Utilities Commission is changing the financing rules regarding new water and waste water connections. 
At a recent meeting, the commission agreed to cancel the 20-year and 40 year terms, limiting the term to 5, 10 or 15 years.
With that come a reduction in interest rates. While the old rate varies from six percent to seven and a quarter percent, the new rate is tied to the prime rate, with a 1.5% increase.
On a five year term, that would knock about 1.5% off the rate.
If the customer prefers, they can pay the connection fee in full, or arrange another source of financing.
