Pittsburgh's water authority ups debt - Pittsburgh Tribune-Review: After meeting with PNC and authority representatives, council members questioned why the financial work was not competitively bid.City Council had them right where they wanted them. City Council folded.
'I don't think that it's been the policy to bid these out,' said State Rep. Don Walko, the authority chairman. 'I think you just try to find the best team.'
Walko said PNC and JP Morgan assembled the authority's separate $25 million bond refinancing in 2007 and that using the firms again would save money.
Well, there is always next time. But next time in this instance is in 2042, give or take a decade.
City council blew it. None even asked a question on the day of the final vote. It was a slam dunk to get more debt.
The 'consent decree' to fix the storm water run off calls for certain measures to be made. Little has happened. Why?
Stewardships. Management. Accountability. Solvency.
The PWSA came about when Tom Murphy hatched an idea for a one-time fix of cash. All the Dems when along with it then. All the Dems sustain it now. Meanwhile, the water main breaks around town are everywhere.