Dec. 12, 2001 — Rumors that Amadeo Francis, director of administration of the V.I. Public Finance Authority, had been terminated by Gov. Charles W. Turnbull were confirmed Tuesday by both parties, although neither would say why.
Reached at his office in Puerto Rico early Tuesday, Francis told the Source "there was some accuracy to the reports" that he had been fired by Turnbull.
"I'm not making any further comments on it," he said. "Any comments can come from the governor's office."
Government House, however, was tight-lipped until about 7 p.m., when a two-paragraph press release was circulated to the media. It stated that Francis's contract for professional services to the Public Finance Authority, dated Jan. 2, 1995, will be terminated on Dec. 31.
Turnbull, who as governor chairs the PFA board of directors, thanked Francis for his services and wished him "every success in all his future endeavors."
Sources familiar with the situation, however, said the termination was not cordial and was because of Francis's refusal to approve a large payment to a V.I. government vendor.
The PFA was created as part of the Government Capital Improvement Act of 1988 as an autonomous instrumentality. The authority is mandated to assist the government in raising capital for essential public projects through bond issuance, investments and loans.
Francis, an economist, is a former V.I. Commerce commissioner. He currently also is vice president of the International Association of Athletics Federations. He competed in track and field at the 1956 Olympic Games in Melbourne.
