No interest on city utility deposit

August 5, 2013 

I have a little issue with the city of Modesto. I recently moved into a new house. Since I did not have an account in my name for about 15 years, I had to pay a deposit of $100 for water, sewage and gas. OK, it is for one year.

I asked, how much interest do I get on my money? They laughed. It doesn't work that way; they don't pay you interest. Why not? If the city loaned me $100 for a year, you can bet your boots they would get interest. But my main issue is why do they need to tie my money up for a whole year? It seems to me that, say, three months would be plenty of time. I think it's absurd to tie our money up for a year. And they say if your pay record is good, you get your refund. What does that mean? If I am late a time or two, I don't get refunded?

Anyway, I just was curious if anyone else felt this way.



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