Audio recording of the July 29, 1999 the Harrisburg Authority (THA) Board meeting.

Bond counselor Richard Michael of Eckert Seamans presents THA Board with an overview of Resolution 1999-004 Water Revenue Bond Issue. The purpose of the issuance was to restructure the overall indebtedness of the water system along with a secondary purpose of generating funds for a capital project---the installation of new water meters, which enabled remote readings.

Through a creative financing combination of bond refunds and a forward bond purchase contract, the resolution enabled a restructuring of the debt service in order to implement a 20% water rate decrease for consumers. The Board approved the resolution and this water rate decrease became a highlight of Mayor Stephen Reed's 1999 campaign for his sixth term as Mayor.

by Tara Leo Auchey

Photo by Natalie Cake