PRESS RELEASE: CHANGES TO SECURITY DEPOSIT POLICY

December 12, 2017, Overton, NV. The Overton Power District No. 5 Board of Trustees approved changes to the Security Deposit Policy OPD-S-5.201 at their regular board meeting held on November 15, 2017, in Overton, NV.

Last year the Board of Trustees approved a new Advanced Metering Infrastructure (AMI) system, providing the District with the means to offer pay as you go billing on residential properties. The District is in the process of installing this new AMI system with final buildout being completed in 2020. It is the intent of the District to offer new renters the option to utilize pay as you go billing when it becomes available.

Portions of the policy will be enforced as of January 1, 2018, the changes include an increase of the security deposit from one hundred dollars ($100) to two hundred and fifty dollars ($250), and the security deposit will be held on the account for forty-eight months (48) instead of twelve months (12).

As pay as you go billing becomes available, security deposits or the remaining security deposit balance can be applied to a customer’s pay as you go account if they choose to change from traditional billing to this new billing method.

A copy of the approved Security Deposit policy is available at the District’s website www.opd5.com.