In the News
Legislative Update - BexarMet Transition
Dear Friends,
I wanted to take a moment to update you on an issue of great importance to our community — the transition of the Bexar Metropolitan Water District to the San Antonio Water System.
As you are aware, BexarMet was abolished by a vote of its ratepayers last November, by a margin of almost 75 percent. While BexarMet no longer exists, the process of converting the utility's assets, liabilities, contracts, equipment and customer services to SAWS is proceeding smoothly.
The ratepayers' wise decision to abolish BexarMet is already paying dividends. Citing SAWS strong management team and predictions for increased revenue to service debt, Standard & Poor's says it has a positive outlook for the former utility's debt. While the current A rating remains in place for now, a future upgrade is likely. And the credit rating agency Moody's calls the merger "credit positive" for BexarMet bondholders. It said oversight by both SAWS and the city of San Antonio will help resolve BexarMet's financial and management challenges.
Despite this good news, nothing should be left to chance. SAWS is taking on a huge responsibility in its absorption of BexarMet, and it is vital that the conversion process continue with speed, precision and efficiency. BexarMet's former ratepayers have every right to expect a higher level of service and commitment from the managers of their new utility.
One way to ensure the continued success of this process is through its oversight by the Bexar Metropolitan Water District Legislative Oversight Committee. As the long-time co-chair of this committee, I am dedicated to making sure that BexarMet customers get what they were promised in the abolition election campaign. Toward that end, I have called a meeting of the oversight committee for Monday, March 26, at 9 a.m., at the San Antonio Main Library Auditorium, 600 Soledad Street. I invite all interested parties to attend.
Thank you again for your interest in this important issue. I will continue to monitor the transfer process and ensure the best interests of the local community are considered. Should you or your family need assistance with this or any other matter before our state government, please contact me or my staff at 210/932.2568.
Sincerely,
Carlos I. Uresti
Bexar Metropolitan Water District Legislative Oversight Committee Hearing
When: Monday, March 26th at 9a.m.
Where: San Antonio Main Library Auditorium, 600 Soledad St., San Antonio, TX 78205
Invited and public testimony will be taken.