Here are links to 2 articles discussing the issues and major cost increases customers face when owned by private, corporate utility companies.
We also have a confirmation from the CPUC about rate increase funds. "the sinking fund requirement (putting some of the revenue towards improvements and emergencies) is no longer required, so the company or new company can use all of the revenue, if not regulated by CPUC."
It's highly likely the approval of a rate increase is a stipulation of the sale.
We all agree the system needs improvements and a sale to a private company might seem like a quick, easy answer but it would come with a price. A very high price.
We are still contacting our elected officials and the water board to push for a receivership and to give the customers a public meeting for more details. SLVWD stated they would reconsider a consolidation if a receiver was involved and goverment funds could be used for repairs.