Florida Governmental Utility Authority Adds 71 Water and Wastewater Systems

 Florida Governmental Utility Authority Adds 71 Water and Wastewater Systems

Aqua Utilities Florida Systems Deal Closes Today

PR Newswire

ORLANDO, Fla., March 28, 2013

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.

The FGUA is a statewide governmental water and wastewater utility governed by
interlocal agreements among member governments. It is a very unique public
authority which can move around the state to acquire private utilities in
consultation with local governments.

The FGUA is a viable, convenient alternative to local government acquisition
of these systems. "Our expertise, ability to negotiate purchases in multiple
counties and buying power creates solutions," Sheets said. Since 1999, the
FGUA has been working very closely with local governments and private utility
owners to acquire, upgrade and maintain water and wastewater systems while
improving customer services. As a utility with no employees, using contract
management and operations, the FGUA is a highly flexible
government-to-government and private-to-government solution with fully
transparent public accountability.

The FGUA also owns and operates water and wastewater service for military
personnel, their families and civilian contractors working at MacDill Air
Force Base in Tampa.

SOURCE Florida Governmental Utility Authority

Website: http://www.fgua.com/
Contact: Sandra Anderson, MPA, APR, +1-813-948-6400, ext. 226,
sandra@eprgroup.com
 
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