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5/7/2025 10:59:58 AM
 
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Section 18: Worcester County Subject: County Hearing Msg# 1224901
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| However, bond counsel either wasn't consulted or didn't see an issue vis-a-vis transfers from solvent enterprise funds/service areas to insolvent funds/areas that have previously occurred. The difference now, apparently anyway, is the public attention and efforts of Board members and Messrs. Bertino and Bunting, to shine a light on what was planned. Bond counsel hopefully did weigh in against the FYE 2026 plan, including for the reasons you've articulated, but who knows whether that particular "feasibility" issue would have carried the day, in the absence of the targeted and organized efforts of OPA, ratepayers throughout the County, OPA Board, and of course Chip Bertino and Jimmy Bunting. | ||||||
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For reference, the above message is a reply to a message where: Good job. Thank you. Still, all that sweat was hardly necessary since, "bond counsel advised against transferring debt across service areas". Rather basic stuff. Those bonds were probably sold based on the projected cash flows of the service areas that the proceeds were used for. Bond investors in OP service area bonds would be screaming if failing utilities' debts were being serviced by OP service area cash flows. |
| Calendar |
OPA Board Meeting - Golf Clubhpuse
6/28/2025 - 9:00 A.M. |
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OPA Board Meeting - Golf Clubhouse
7/26/2025 - 9:00 A.M. |
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Annual Meeting - Assateague Room
8/9/2025 - 9:00 A.M. |