9-Year-Old Boy Dies After Being Shot in Head in Croixville Housing Community; Police Detain 15-Year-Old

Concerned Residents Clean Christiansted Town Using Their Own Tools, Money, and Some Help from the VI Fire Service

Territory May See Veterans Cemetery Through DeGazon-Sponsored Bill

Credit and Debit Cards of WAPA Customers Were Compromised Since August 30th, WAPA Says, Authority to Finally Start Issuing Notification Via Mail and Email

Sports Tourism in VI Gains Momentum as DC United Team is set to Play Exhibition Soccer Game on St. Croix

Carnival Breeze Brings 3,700 Tourists to St. Croix During Maiden Call; Senators, Tourism Officials Want to See More

Limetree Bay Willing To Provide $10 Million To Help Add Life to a Dying G.E.R.S.

American Airlines to Serve St. Croix With New Flights Next Summer

The Sudden Death of Influential Roots Reggae Visionary, Vaughn Benjamin of Midnite Band and Akae Beka, Has Rocked the Virgin Islands and Reggae Community Around the World

Arthur A. Richards K-8 School Hosts Anti-Bullying Campaign

Come Out. Hang Out. Have Fun at The Meat Up, One of St. Thomas’ Latest Hot-Spot for Good Food with Friends and Family.

UVI Board of Trustees Approves $47.1 Million Fiscal Year 2020 Budget; Sets $3 Million Fundraising Goal

Man Dies During Early Morning Car Accident on St. Croix; Driver of Car Arrested (Updated)

'You Did Everything You Could to Prevent this from Happening': An Emotional Goodbye to Young Aaron Benjamin

Back in Business: Cost U Less on St. Thomas Opened its Doors Friday to Thousands of Customers 2 Years after Irma and Maria

Bill Aimed at Regulating Credit Use by Gov't Departments and Agencies Among Others Held in Committee

Juan Luis Hospital Announces Completion and Availability of Mobile Dialysis Facilities

Tractor Trailer With Tank Carrying Thousands Of Gallons of Liquified Gas Flips Near Cool Out Bar; Driver Injured But Alive

Credit and Debit Card Hack Through WAPA Appears to be Widespread in Virgin Islands; WAPA Says Support Services Will be Made Available to Affected Customers

Facing Life in Prison Without Parole, Mother and Boyfriend Plead Not Guilty in Murder of 4-Year-Old Boy

WAPA To Petition Public Services Commission For Approval Of Community Disaster Loan

Virgin Islands / October 17, 2018

In an emergency meeting Tuesday, the governing board of the Virgin Islands Water and Power Authority authorized the filing of a petition with the V.I. Public Services Commission that would facilitate approval of the federal Community Disaster Loans for WAPA, the utility announced Wednesday. The loan funding was needed to bridge the loss of revenue resulting from the 2017 hurricanes, WAPA said.

The petition is a requirement for approval of the federal government loan and seeks the PSC’s acknowledgement of the Community Disaster Loan.

“To date, WAPA has received $91 million in CDL’s, which are secured by a first lien and security interest in water system revenues and/or electric system revenues, to pay the interest and/or principal on the loans beginning in July 2019. Under sections of the Electric Bond Revenue Resolution, WAPA is permitted to include projected net electric revenues resulting from future rate increases only where the Public Services Commission has approved the projects referenced in resolutions authorizing the issuance of the bonds and that is what the petition seeks to achieve,” said Executive Director Lawrence Kupfer.

The sole item on the meeting agenda was unanimously approved.

Board members in attendance included Chairwoman Elizabeth Armstrong, Vice-Chairman Hubert Turnbull, Secretary Juanita Young, Commissioner Devin Carrington Director Marvin Pickering, and Cheryl Boynes-Jackson. Commissioner Nelson Petty, Jr., Noel Loftus, and Gerald T. Groner, Esq. were excused.

Tags: , , ,

Staff Consortium

Previous Post

UVI Announces 2018 Hackathon Winners

Next Post

UVI Announces Winners Of 18 Fall Student Research Symposium

You might also like

Leave a Reply

More Story

UVI Announces 2018 Hackathon Winners

The University of the Virgin Islands on Wednesday announced the winners of the 3rd annual Hackathon which was held on both...

October 17, 2018