10 / 11 / 2018
  - 12:35:09 PM
Milford Water Company Department of Public Utilities Hearing


By MyFM's Rick Michaels - The Department of Public Utilities will be holding an evidentiary hearing this morning, on a petition by the Milford Water Company asking for the authorization and approval, to enter into a seven million dollar non revolving line of credit. The Milford Water Company’s Board of Directors provided it’s consent, authorizing the proposed financing. The petition was filed with the D-P-U in late July. After the financing is in place the M-W-C will have a combined capitalization structure of almost 37 million dollars of which 64-percent would be long-term debt. The proceeds from the line of credit would be used to finance infrastructure, maintenance and improvements that are necessary, to provide service to it’s customers.

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