Dowd: PWSA's problem bond could lead to a $3,800 liability for each customer (including me!)

[First, Early Return Dudes, I'm still playing catch up. This is my non-paying gig and the stuff I posted early this AM was from last night. Besides, I have some plumber dudes filling in a $9,000 hole in my basement today and I have my own problems with PWSA and I'm just a mere 22 callers on hold away from speaking to them.]

The folks at the Post-Gazette are right. This is important:

First, Dowd. The mayoral challenger, whose campaign is all about sober-minded fiscal responsibility, spent the weekend poring over 2,000-plus pages of financial documents on a squirrelly water and sewer authority bond deal, and came up with some explosive findings -- that the city agency recklessly entered a no-bid financial deal, overseen by Ravenstahl's own finance director, that is costing ratepayers at least $2.6 million a year.

Dowd was wrong, the water authority's director responded at a press conference called later by Ravenstahl's office -- it is actually costing city residents $2.9 million. "To attempt to politicize this issue at the expense of ratepayers is unfortunate," Ravenstahl said, accusing Mr. Dowd of releasing "some sensitive information" on the deal.

Read all the ugliness here.

(Will there ever come a time when I see the term SWAP and don't feel like running for the hills?)
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