The claim that Pinehurst already owns the system is nonsense. It is a County asset.
The system is a stand alone business by any measure. With revenues approaching $5,000,000 per year, the Village can well afford to staff the enterprise with professional management. Those who focus only on the projected debt load would do well to examine the cash flow numbers generated by Pinehurst Finance Director Natalie Dean. They clearly show the ability to reduce the debt loan over the life of the borrowings with only minimal rate increases.
Moore County will generate sufficient new funds from the asset sale to help fund completion of the rural water service districts without major cost increases to users. Dennis Brobst intends to remain at the helm of Moore County Public Utilities which is great news for subscribers. His proven management ability is acknowledged by all parties.
Some have asked what about unforeseen operating problems that lead to major expense. Come on now. No matter who owns the system, the users will ultimately pay all the added costs.
During the recent forum, Commissioner Michael Holden acknowledged that the asset transfer will put Pinehurst on equal footing with its neighbors, Southern Pines, Aberdeen and Carthage. That is as it should be.
Walter B. Bull Jr.
Pinehurst