The Paris Utility Authority board had its first meeting as a recognized entity on Monday afternoon.
The Paris Commission unanimously approved the authority’s certificate of incorporation Thursday.
PUA President/Chief Executive Officer Terry Wimberley opened the meeting by recognizing the board members as charter members.
Those members are David Flowers, Ralph Anderson, Terry Fuller, Michael Murphey and Butch Powers, with attorney Steve Greer as legal counsel.
The board also approved an initial resolution, which addressed several matters relating to the organization and operation of the new authority.
This resolution included the selection of Wimberley as president /CEO.
It also adopted the current rate schedule from the Paris Board of Public Utilities for the PUA’s rates moving forward.
Lastly, the resolution approved the authority to do business as — and keep using the name of — the Paris BPU.
“We’ve been proudly serving the residents of Paris and Henry County for over eighty years as the Paris Board of Public Utilities,” said Wimberley.
“Our customers know us, they trust us, they rely on us, and we don’t want that to change. Our goal is that this transition will go unnoticed by our customers and our customers can still expect the same level of service and reliability they have come to know.”
The board also approved an assignment and assumption agreement, which was already approved by both the BPU and the Paris Commission, and a municipal advisory agreement.
The municipal advisory agreement, with Raymond James & Associates, designates James as the financial adviser to the PUA.
“The formation of Paris Utility Authority is a positive move for our community and I am proud to be a part of this transition,” said Wimberley. “We will continue to work alongside the city of Paris to accomplish great things as a utility.”