The Prichard water board has filed an objection to an “overly broad” proposed order setting out the powers of an outside expert that a judge said he would appoint to run the troubled utility.
The Prichard Water & Sewer Board has objected to a proposal by Synovus Bank to appoint a receiver with sweeping powers over the troubled utility. Attorneys for the board argue that proposal would violate the Alabama Constitution and state law.setting out the powers of an outside expert that a judge said he would appoint to run the troubled utility., which manages the $55.78 million that the bank borrowed on the bond market in 2019.
The utility’s lawyers argue that the bank failed to prove that there is an “emergency” that requires the appointment of a receiver before a full-blown trial on the matter. They wrote that the mismanagement of the system was “exacerbated” by “former bad actors, who are no longer employed” by the utility. That is a reference to former operations manager Nia Bradley and two other former employees, who have beenmakes clear that the bondholders never have missed a payment.
The system has been “diligently pursuing appropriate corrective action to cure any potential Event of Default,” the utility wrote, pointing to athat takes effect this week. That will boost revenue in the current fiscal year to $14.4 million, sufficient to cover the debt service payment and repay the reserve funds.
The lawyers point to several proposed powers that they argue would violate state law. For instance, they wrote, any hiring or firing of employees must adhere to the policies and procedures of the Mobile County Personnel Board.
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