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Dec 9, 2013
Dennis Pearson's Excellent Water Lease Explanation
As an Allentonian, I am glad our financial situation is in the black. But continued fiscal responsibility is a necessity to keep it in the black. We don't need irresponsible actions that occurred in our past to be repeated in the future. But as an LCA user, I wonder how the authority will pay back the debt it assumed and what my share of the debt payback will be through my future user charges. You see, the pension debt has not disappeared. It was just transferred to LCA via the lease agreement.
Time will tell if the authority will be able to handle this debt to produce a soft landing for us water and sewer users in Allentown. What we don't want is a hard landing. A hard landing would be more expensive and stressful for consumers. We don't need irresponsible actions that occurred in our past to repeat in the future.
The above appeared as a Letter To The Editor in The Morning Call on Sunday December 8th, 2013