The water system that serves Chickasaw and Prichard has stopped making debt payments on more than $55 million that the utility borrowed, according to the man appointed by a judge to oversee the troubled utility.
) - The water system that serves here and Prichard has stopped making debt payments on more than $55 million that the utility borrowed, according to the manlawsuit
“I was appointed to come in and make the right decisions for this utility in both the short term and the long term,” he told FOX10 News. “And I made the decision that when I look at the priority of the spending I needed to do, the bondholders were not on the top of the list. Now ultimately, the goal is to fully repay the bondholders. But I had to pay for things that protected public health. I had to pay for my employees. I had to pay to purchase water.
The advisory council met Thursday without Young several hours before the public meeting he chaired. Members said they considered various options for the long-term course. Council members agreed to meet again Monday, this time in Prichard, to see if they can resolve differences among them. “We know that’s a small portion of the total,” he told the advisory panel. “We know there’s a lot more leaking than that.”
Young said he plans to use funds from an Alabama Department of Environmental Management grant to pay for the replacement of nine miles of piping on Lovejoy Loop. He said construction will start early next year. The last of three phases will be complete by early 2026.
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