The water bill war between Tracewood Apartments and JXN Water is over for now. WLBT's Anthony Warren reported:
A federal judge will likely sign off on a payment plan this week that will give owners of a North Jackson apartment complex more time to clear up a $910,000 past-due amount with JXN Water.... Melissa Wilson, who represents JXN Water, provided details of the plan. She told Wingate that Tracewood will make an initial payment of $227,515.67 on September 15, followed by monthly installments of $56,878.92 beginning on October 1. Those payments will run through September 30, 2026. Wilson also said Tracewood agreed to pay the utility eight percent interest on the past-due amount in six equal installments of $24,207.67. “Additionally, the plaintiffs have agreed to keep this account current through the duration of the payment plan. And... also agreed to post a $1 million utility bond, which will remain in effect through September 30, 2026,” she said.... The proceedings lasted approximately 45 minutes, with Wingate spending much of the time grilling JXN Water on its billing process, particularly why the utility doesn’t charge late fees or interest for nonpayment.... Rest of thorough article.
One apartment complex down. How many to go?
19 comments:
They knew they owed the bill. Looks
like Jxn Water gets their money.
Now 20,000 more personal accounts to go
There's not 20,000 owing money.
post a $1 million utility bond Excellent move.
Well done
Make sure that Tracewood renews the bond,ifnecwssary. Smith Willis situation waiting to happen.
Hopefully the other apartment complexes will sit up and take notice.
JXN Water will be filing a claim on that bond soon.
Yay for Jxn Water -- NEXT!
Whoever wrote that bond is going to get an ass chewing when the city calls it due.
Apparently turning the vales off does work!
8:25, I’m sure the bond will be secured by collateral, probably the property itself.
When you're in that business it's all business.
Every bond they write is a win-win for the bond writer.
There seems to be confusion over if water is a right, or a commodity. The previous mayor, and his gaggle of grifters, considered water to be a right, and therefore acted accordingly. These actions brought ruin to the system.
The present organization, controlling the water system, seems to be torn between those two thoughts. The head of the water system, who's personal predilection, is one being as a socialist, is anchored by capitalism to fund the water system as a commodity.
This confusion must be clarified for the survival of the water system, especially concerning judge Reeves.
I wonder if the bond has actually been written. There may be an agreement for a bond, but who is their right mind would underwrite such a bond when there is almost a certainty that it will have to be paid because the owner cannot pay the water bill?
Parasitic companies. Glad we have a competent Third Party that is going after these big accounts. Clean up the big accounts and then hopefully change individual behaviors so that everyone knows they need to pay as well.
Didn't Jxn Water get them to pay interest $144,000
And the apartment complex as collateral...no bonding company wants to deal with that.
I heard a proposal to pay city water bill
failed when they passed the budget. I
think it's time to get shut off.
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