Troubled Kentucky water district fails to comply with state order after raising rates
Pikeville -- Martin County's troubled water district failed to meet its first reporting deadline to Kentucky regulators after it was granted an emergency rate increase to prevent its financial collapse.
The failure prompted regulators to threaten the water system again this week with a forced takeover.
The deadlines were issued when the Public Service Commission, the state agency that regulates most utilities in Kentucky, gave the district permission in March to raise rates by 28 percent.
Martin County Water District officials said the district needed an influx of cash to stave off impending financial collapse. As part of the agreement, the PSC ordered the district to submit detailed financial records on the 15th of every month, starting in April.
Read more here: http://www.kentucky.com/news/state/article210866209.html