Tuesday, July 30, 2013
LCA Water Lease Delayed
Sources tell me that the controversial $220 million water lease from Allentown to the Lehigh County Authority (LCA) has been delayed, at least until August 7. Because the LCA has no real assets, the only thing it can really pledge for payment is the ratepayer. I understand the bond rating is less than desirable.
Updated 6 pm: Whatever the reason for the delay, it is not the bond rating. The Express Times reports the LCA claiming the third highest rating. http://www.lehighvalleylive.com/allentown/index.ssf/2013/07/lehigh_county_authority_to_sta.html#incart_river_default