LCWSA board talks debt repayment
Published 6:05 pm Friday, April 26, 2019
- LCWSA logo limestone county water sewer authority
A measure approved Thursday by the Limestone County Water & Sewer Authority could help reduce the utility’s $86 million debt in the future.
The LCWSA board gave Chief Executive Officer Daryl Williamson the authority to start negotiations with Frazier Lanier Company, which has expressed interest in being the utility’s bond underwriter. Williamson said the company does underwriting work for the cities of Madison and Athens, as well as Decatur Utilities, among others.
He explained the underwriter is important because the LCWSA plans to pay down existing debt and possibly issue new bonds to pay off old bonds. LCWSA will use the $11 million proceeds from the recent sale of part of its system to Huntsville Utilities to put toward its debt.
Elsewhere Thursday, Williamson announced LCWSA employees had been assisting Limestone County Schools with testing water quality inside the schools.
“Our lab guys are going with them to make sure they follow protocol,” he said.
Once collected, samples will be sent to Pace Analytical Services in Decatur for testing.
Other business
In other business, the board:
• Approved Phase 2 of Nature’s Trail, a 99-lot residential subdivision in Madison-annexed Limestone County; and
• Reviewed and approved the Municipal Water Pollution Prevention annual reports for all Wastewater Treatment Facilities.