This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Florida Governmental Utility Authority Adds 71 Water And Wastewater Systems

ORLANDO, Fla., March 28, 2013 /PRNewswire/ -- Today, the Florida Governmental Utility Authority ( FGUA) executed the closing documents to acquire 71 water and wastewater systems scattered across 12 Florida counties from Aqua Utilities Florida, a division of Aqua America, Inc. (Aqua). Last December the FGUA Board approved an Acquisition Agreement for the systems adding approximately 22,270 new connections to the FGUA systems, pushing their total connections in Florida to more than 112,000.

The Aqua systems being acquired by the FGUA are located in Alachua, Citrus, Hardee, Lake, Lee, Marion, Orange, Pasco, Polk, Putnam, Seminole and Volusia counties. Click here to view map.  The systems were purchased for $50 million through three separate bond issues for the Pasco County, Lake County and Unified (all other) systems. 

"After a year of careful evaluation, analysis and negotiation of a complex transaction, we successfully secured bond financing at rates favorable to customers to purchase and improve these systems," said Robert Sheets, System Manager for the FGUA. "Today, we executed the documents that will put these systems into governmental ownership and management. There will be a brief operational transition period when Aqua will continue providing interim services, but we're confident that customers will notice a public service difference very shortly."

Anticipated customer benefits include improved customer service, improved water and wastewater operations and reliability, and more. There will be no rate increases upon acquisition and subsequent changes will be limited to inflation adjustments for the next five years, unless unforeseen circumstances arise.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,269.33 -147.52 -0.85%
S&P 500 2,009.65 -11.60 -0.57%
NASDAQ 4,668.8280 -14.5790 -0.31%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs