RESOLUTION OF LIPA OVERSIGHT COMMITTEE


THE LIPA OVERSIGHT COMMITTEE, HAVING CONSIDERED  AND EVALUATED THE PROBLEMATIC LEGAL, FINANCIAL, IRS, REGULATORY,AND ECONOMIC ISSUES PRESENTED BY GOVERNOR CUOMO’S LIPA REORGANIZATION BILL,  AND  THE PROPOSED AMENDMENTS TO THE OPERATIONS SERVICE AGREEMENT BETWEEN LIPA AND PSE&G, AND  HAVING ALSO REVIEWED THE STATEMENTS AND MATERIALS SUBMITTED BY THE GOVERNOR ,   THE STATE COMPTROLLER,  NEW YORK STATE ASSEMBLY MEMBERS, THE COMMENTS OF THE PARTICIPANTS AT THE PUBLIC MEETINGS  IN NASSAU AND SUFFOLK COUNTIES, AND THE MEDIA,

UPON MOTION DULY MADE ,  AND  SECONDED,   ADOPTED ON JUNE 7, 2013,  THE FOLLOWING RESOLUTION :

RESOLVED: THAT THE LIOC OPPOSES, AND RECOMMENDS THAT THE SUFFOLK COUNTY LEGISLATURE OPPOSE THE  ENACTMENT OF THE BILL IN ITS PRESENT FORM, IN THIS OR ANY FUTURE LEGISLATIVE SESSION, AND DEMANDS THAT THE BILL, AND ANY PROPOSED CHANGES TO THE OSA BETWSEEN LIPA AND PSE&G, BE AMENDED, AFTER MANDATORY ADVANCE NOTICES, PUBLIC HEARINGS, AND APPROVALS AND RULINGS,  BY THE STATE COMPTROLLER, PSC, AND IRS,  TO INCLUDE  AS CONDITIONS PRECEDENT TO ENACTMENT, PROVISIONS THAT WILL CURE THE  DEFECTS IN THE BILL, AND THE PROPOSED NEW OSA.,  PROTECT THE INTERESTS OF THE RATE PAYERS, TAXPAYERS, AND BONDHOLDERS, AND ASSURE LIPA’S CONTINUED STATUS AS A FINANCIALLY  VIABLE TAX EXEMPT PUBLIC POWER AUTHORITY.

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About lipaoversight

LIPA Oversight Committee was created to analyze the rates and practices to determine if it is working in the best interests of the Suffolk County ratepayers
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One Response to RESOLUTION OF LIPA OVERSIGHT COMMITTEE

  1. Steve says:

    Stop the vote and fix it first

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