U.S. VIRGIN ISLANDS — During an appearance on “Analyze This” with Neville James on WTJX-FM on Tuesday. April 4, Governor Albert Bryan Jr. detailed his plan to solve the disagreement between VITOL and the V.I. Water and Power Authority by using the $150 million line of credit that he called to 35th Legislature into Special Session to consider.
The Special Session about Governor Bryan’s proposed legislation is scheduled to take place at 10 a.m. on Wednesday, April 5.
The Governor said that the Administration has brokered an agreement between VITOL and WAPA, and some of the line of credit he is requesting will be used to pay the utility’s debt to the propane supplier, which also will allow additional connections to the propane system WAPA currently uses.
Governor Bryan also explained that the federal expenditures from the line of credit are reimbursable through federal recovery funds.
Although specifics of the agreement between WAPA and VITOL remain confidential, Governor Bryan said he will use the line of credit to pay VITOL $45 million within the next 45 days toward the debt WAPA owes to the propane supplier.
In his transmittal letter to Senate President Novelle Francis Jr. calling the Legislature into Special Session, Governor Bryan said the line of credit also would be used to meet the federal government’s local matching requirements for a number of recovery projects, as well as for normal business operations of the Government of the Virgin Islands.
During the radio interview, Governor Bryan also said that stabilizing WAPA is a primary objective of his second term in office.
The Bryan-Roach Administration is investing in the Territory’s people, infrastructure and future through transparency, stabilizing the economy, restoring trust in the government and ensuring that recovery projects are completed as quickly as possible. Visit transparency.vi.gov