Commission: Hillcrest to purchase the water, sewer system assets - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Commission: Hillcrest to purchase the water, sewer system assets of Brandco Investments

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JEFFERSON CITY, MO (KFVS) -

The Missouri Public Service Commission says they've approved an agreement which authorizes Hillcrest Utility Operating Company, Inc. (Hillcrest) to purchase the water and sewer system assets of Brandco Investments LLC (Brandco).

The subdivision just outside of Cape Girardeau, Missouri has been plagued many boil water orders.

According to a news release, the agreement approved by the commission was submitted by the PSC Staff and Hillcrest.

“After reviewing the stipulation and agreement, the Commission independently finds and concludes that such stipulation and agreement is in the public interest and should be approved,” said the Commission.

According to the commission, the Office of the Public Counsel did not sign the agreement but the agreement states that the Office of the Public Counsel does not oppose the agreement.

The Office of the Public Counsel is a separate state agency which represents the general public in cases before the commission.

The agreement means that Hillcrest should be authorized to acquire and operate the water and sewer systems currently owned and operated by Brandco.

The agreement also provides that Hillcrest should be authorized to finance its purchase of the Brandco systems by entering into a loan agreement with Fresh Start Ventures, LLC.

It also requires Hillcrest and affiliated companies to make their books and records available for review by the PSC Staff and the Office of the Public Counsel. And, it requires Hillcrest to provide additional information concerning the financing of the transaction to the PSC Staff and the Office of the Public Counsel.

Brandco serves approximately 255 water and sewer customers in the Hillcrest Manor Subdivision which is located in Cape Girardeau County near Gordonville, Missouri.

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