Bank’s proposal would give Prichard water system receiver sweeping powers

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An outside expert appointed to run the Prichard water and sewer system would have sweeping powers under a proposal offered by a bank that manages the money that the utility borrowed in 2019.

with the Prichard Water Works & Sewer Board over default of the $55.78 million bond issue. Now all that’s left is to fill in the details.

The utility has until Friday to respond. Then it would have to determine whether to accept Youngpeter’s order or appeal. Jay Ross, the utility’s attorney, declined to comment. Although he is utility’s lawyer, he may not be for long; Young has indicated a desire to bring in his own counsel. The bank also proposed a 15-member citizens advisory council consisting of representatives of each council district in Prichard; two Chickasaw residents appointed by the mayor and council there; and residents appointed by the Mobile County Commissioner, the Prichard mayor, the state representatives for Districts 97, 98 and 99, and the District 33 state senator. But in all matters, that board would offer advice only; Young would have the final say.

 

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