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Group outlines water systems’ cash flow

May 20, 2014
By William Kibler (bkibler@altoonamirror.com) , The Altoona Mirror

Last week, a consultant hired by City Council to find a long-term lessee for the city's water and sewer systems estimated a deal could fetch an upfront $180 million to $240 million, which could pay off all city and authority debt, eliminate the 12-mills of property tax dedicated to that debt, fully fund city and authority pension plans and maybe exit the state's Act 47 distress program - while keeping control of rates and protecting workers.

 
 

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