A source with knowledge of the Bernhard decision says Bernhard Capital Partners is withdrawing its proposal to manage Lafayette Utilities System.

Carol Ross made the announcement at the start of "The Ross Report."

It was in mid-October that NextGen Utilities, a subsidiary of Bernhard Capital Partners, presented its proposal to manage Lafayette Utility System.

Believe is the withdrawal letter addressed to Lafayette Mayor-President Joel Robideaux:

NextGen Withdrawal Letter