Oxnard expecting to lose up to $12 million, mulls borrowing from utilities
The city [of Oxnard] is expecting an $8.7 million decrease in general fund revenues for this fiscal year ending June 30. The projection for revenue loss next year is $9 million, although it could be as high as $12 million. Finance and Governance Committee members are expected to hear about a plan to borrow up to $30 million from the three utilities — water, wastewater and solid waste… The loan would need to be repaid on a 10-year schedule with interest.