A cross section of local contractors lobbied Monday at the Capitol for the approval of the bill that would give the Puerto Rico Aqueduct and Sewer Authority access to the bond market saying, “a vote against the bill is a vote in favor of a water rate hike.”
The Puerto Rico Aqueduct and Sewer Authority’s board of directors approved Tuesday a plan mapping out its finances through the end of the fiscal year that is anchored on the approval of the bill establishing a new credit-issuing entity that is already facing opposition.
The Puerto Rico Aqueduct and Sewer Authority is considering dipping into its rate stabilization fund to pay off $90 million due to creditors by month’s end, which would drain the reserve entirely, utility officials said Monday.
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