September 2004 – Vote September 11th
By: Oscar Garcia, Chairman Brownsville PUB

This Saturday, September 11, 2004 is Election Day for the Special City Charter Amendments. Everyone involved believes this election is in the best interest of the City, the Brownsville Public Utilities Board, and customers.

I write this letter encouraging all Brownsville citizens to vote on Saturday. There are four different propositions on the ballot that either amend or rescind portions of the existing City Charter that deal specifically with the Brownsville PUB operations and city financing. These changes to the City Charter can only happen via an election and vote by the citizenry.

The purpose of these changes is to gain financial flexibility for the utility including making some financial decisions, so as to be able to better manage existing debt and ensure financial options for new projects. This financial flexibility gives the Brownsville PUB the ability to complete necessary projects and continue improving services, while still keeping rates competitive.

Among the many advantages to these Charter revisions is the potential to improve the Brownsville PUB bond rating in New York. That in turn should assist with lowering the offered interest rate when revenue bonds are refinanced. This translates into less money that would need to be repaid.

If the changes to the Charter are approved, the City Commission’s current oversight of Brownsville PUB will continue.

All of the proposed Charter amendments were recommended by the shared financial advisor for the City and Brownsville PUB, as well as by the legal bond councils for both entities. These changes are fully supported by the Brownsville PUB Board of Directors, the mayor, and the City Commission.

If citizens are interested in learning more about this very important issue, please visit the Brownsville PUB website at www.brownsville-pub.com.

Sincerely,

Oscar Garcia
Chairman
Brownsville Public Utilities Board