💧 Water and Power · U.S. Virgin Islands
WAPA board approved $33.9 million in bond anticipation notes and accepted 2017 audited financial statements
The Virgin Islands Water and Power Authority’s governing board, meeting in an emergency session on December 6, 2018, approved a resolution ratifying the substantially final terms of an eighth supplemental resolution tied to $33.9 million in bond anticipation notes.
According to WAPA, the notes were set to refinance the 2016A bond anticipation notes before their December 7, 2018 maturity date. The newly authorized notes were to mature in July 2020 and carry a 7% interest rate.
The board also approved the release of WAPA’s completed 2017 audited financial statements to required stakeholders.
WAPA said board members attending the meeting were Chairwoman Elizabeth Armstrong, Vice Chairman Hubert Turnbull, Secretary Juanita Young, Commissioner Devin Carrington, Director Marvin Pickering, Gerald T. Groner, Noel Loftus and Cheryl Boynes Jackson. Commissioner Nelson Petty Jr. was excused.