Water board faces outside political pressure:
“Do it our way. That’s the message from City of Gulf Breeze officials to the Holley Navarre Water System board about a controversial proposal to refinance $9.8 million in debt held by the collective from which the utility buys most of its water. A majority of HNWS directors recently rebuffed the pitch by …..a paid adviser to Gulf Breeze—seeking their support to extend the co-op’s seven- year-loan to 20 years in order to reduce its loan payments. Opponents object that the refinancing would increase the total amount the collective owes by about 40 percent to roughly $14 million and delay by 13 years the opportunity to become debt free which, under the current loan terms, would occur in 2024.
Nov. 9, 2017/Front Page:
Suspicions rile water board
The rebellion among Holley Navarre Water System board members against proposed debt restructuring by the collective that supplies their water focuses on concerns that the motive behind the deal is actually to enrich the City of Gulf Breeze. ….Gulf Breeze city officials are leading the push to refinance, promising that the new debt structure will offer lower interest rates and reduce annual loan payments while freeing up cash to build Fairpoint’s reserves. ….In fact, when questioned by a Navarre Press reporter, Gulf Breeze officials acknowledged they aren’t even sure how much of the current loan is principal versus interest, nor how much of a newly restructured debt would consist of either.
April 5, 2018/Front Page:
Fairpoint foresees big cash surplus
In an apparent reversal of fortune from a year ago, Fairpoint Regional Utility now expects a financial surplus that could rise to about $12 million during the next decade. Further, recent changes to Fairpoint’s board are already signaling its increased independence of influence from City of Gulf Breeze officials who campaigned last year for a controversial restructuring of the cooperative’s debt.
Need I say more?
In other news, Good Shepherd Lutheran School is enrolling now for Preschool to second grade. Call 850-932-9127 for a tour.
Precision Martial Arts teaches Hapkido and Krav Maga and is offering your first class free. See their ad on the Healthy Living page for more information.
Little Women at the Pensacola Little Theatre debuts Friday and runs for two weeks. We have tickets at Navarre Press for our All Access subscribers.
Quote of the Week: “Create the Highest, grandest vision possible for your life (or town), because you become what you believe.” Oprah Winfrey (1954 – )
“The most pathetic person in the world is someone who has sight, but has no vision.” Helen Keller. (1880 – 1968)
“Where there is no vision, the people perish.” Proverbs 29:18
