Executive Officer Testimony Details

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Testimony Related to Bill 30-0115

(Tuesday, June 11, 2013)

PREPARED STATEMENT OF DAVID WOMACK, MANAGING DIRECTOR, RICE FINANCIAL PRODUCTS COMPANY TO THE COMMITTEE ON ENERGY AND ENVIRONMENTAL PROTECTION 30TH LEGISLATURE OF THE VIRGIN ISLANDS

BILL No. 30-0115

June 11, 2013

Good day Honorable Chairperson Craig W. Barshinger, honorable members of the Committee on Energy and Environmental Protection, other Senators present, testifiers and the listening and viewing audience. My name is David Womack. I am a Managing Director of Rice Financial Products Company, a municipal securities firm based in New York, New York. I have worked with the Authority, assisting it in accessing the capital markets for more than a decade. Rice Financial has served as lead bond underwriter for the Virgin Islands Water and Power Authority for the issuance of its Electric System Revenue Bonds, Series 2010 and Series 2012. Prior to joining Rice, I was a Director at Citigroup, in which capacity I served as lead bond underwriter for the Virgin Islands Water and Power Authority for the issuance of its Electric System Revenue Bonds, Series 2003 and Series 2007. I would like to thank you for allowing me the opportunity to testify on Bill 30-0115 ( hereinafter the “Bill”), “ to limit the amount of the Levelized Energy Adjustment Clause ( “LEAC”) the Public Services Commission (“PSC”) can authorize the Virgin Islands Water and Power Authority to recover from its customers”.

> Read Complete Statement in PDF Format


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