Pasco County Utilities - Pasco Aqua System Acquisition Updates
|Update 2/6/20: The Pasco County Board of County Commissioners (BCC) held its public interest hearing on November 19, 2019. The BCC found the acquisition of the PAUS to be in the public interest. On December 10, 2020, the BCC approved and signed the Transition Agreement (UT20-0135). On January 16, 2020, the Florida Governmental Utility Authority (FGUA) Board of Directors also found the acquisition to be in the public interest, and signed the Transition Agreement, as well. Transition activities continue, and the transition is on track to take effect this summer.|
Pasco County Utilities Pasco Aqua System Acquisition Updates
Pasco County Utilities is committed to a smooth transition
for the Pasco Aqua Utility System
The much anticipated acquisition of the Pasco Aqua Utility System (PAUS), by Pasco County Utilities (PCU), is scheduled to take effect during the summer of 2020. PCU is committed to implementing a seamless transition by providing project updates on a regular basis. The following proactive steps are intended to ensure community awareness and engagement:
- Acquisition Intent: Pasco County Resolution 19-101 notified the Florida Governmental Utility Authority (FGUA) on February 19, 2019, of PCU’s intent to acquire PAUS as well as assume the associated debt.
- Minimizing the Overall Impact: Stantec Consulting Services, Inc., (SCS) performed an Acquisition Financial Impact Analysis for the acquisition and integration of PAUS. The analysis developed by SCS provided possible scenarios to minimize the overall impact to future PAUS Customers and existing PCU Customers. Evaluations of the projected cash flow, PCU expenses, annual renewal and replacement, capital improvements, as well as the debt load, term, and coverage ratio requirements were all factors in determining the financial impact.
- Next Steps: Further investigation of the PAUS is currently being conducted by PCU staff in anticipation of the state law required public interest hearing to be held before the end of 2019. A Transition Agreement for PAUS is also being drafted by Pasco County and FGUA to establish the path for acquisition.
Pasco County Utilities has a long-standing mission to support customers and provide high-quality water, wastewater, reclaimed water, and solid waste services. Visit PascoCountyUtilities.com for more information about services provided by Pasco County Utilities.
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