June 7, 2011

Tuesday’s Water News: IRS Investigating Jefferson County’s (Ala.) Tax-Exempt Sewer Bonds

Posted in Alaska, California, Colorado, Kentucky, Maine, Massachusetts, Michigan, New Jersey, Virginia at 2:34 pm by bengann

Top Story
In Alabama, Jefferson County says the Internal Revenue Service is investigating the tax-free status of sewer bonds that have landed the state’s largest county on the brink of bankruptcy. The county is in default on its sewer bonds, after the spending on a $1 billion project more than tripled and complex Wall Street interest rate swaps backfired.

Other Headlines
An issue with the sewer system could mean big trouble for a popular Northern Kentucky nightspot,  because it has been discovered the restaurant is no longer tied into the sewer system, meaning that their waste was being discharged into the Ohio River.

A $4.7 million project to upgrade the town’ of Wilton, Maine’s sewer system was approved by voters at the town meeting last night. To pay for the project, the town’s 995 sewer customers will pay an added $240 per year over the next 29 years on their sewer bills.

The longtime settling of a concrete vault is being blamed for the collapse of a sewer line along Route 37 in Toms River, New Jersey yesterday, which caused a sinkhole that shut down the right eastbound lane of the roadway until after midnight.

A water main break in the area of Peabody, Massachusetts left about 15 houses and a strip mall without water for about five hours yesterday.

Water and Sewer Rate News
Bay City, Michigan
Burlingame, California
Canon City, Colorado
Vienna, Virginia

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