Thursday, July 12, 2018

Allentown Sues Lehigh County Authority

The Morning Call
Allentown sues Lehigh County Authority
days after $36.4 M arbitration demand
"LCA and Allentown signed a lease in 2013 that called for the authority to give the city $211.3 million in exchange for control of the system for 50 years. Allentown used the money to pay down its cash-poor pension systems."

May I suggest...
If Allentown feels it's excessive perhaps they should consider offering a buy back. At this point the LCA might be willing to forgo this endless bickering. However after assuming the transfer of the loan debt, the required repairs and other outstanding obligations I very much doubt things would turn out much differently for water consumers. It isn't like the LCA is a for-profit operation.

This whole thing comes down to simply rearranging the deck chairs. There's no such thing as free money.

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