November 4, 2009
Wednesday’s Water News: JP Morgan Reaches $700M Settlement in Sewer Bond Case
J.P. Morgan Chase has agreed to a settlement worth more than $700 million over federal regulators’ charges that it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Alabama. The move lowers the county’s bond debt to about $3.2 billion from $3.9 billion, but officials had no immediate comment on whether that was enough to help the county avoid filing what would be the largest municipal bankruptcy ever.
Headlines
A water main break in Cleveland Heights, Ohio on Wednesday morning caused water to shoot into the air about 30 feet.
A sewage treatment plant in the small northern Minnesota town of Williams is failing and threatens to dump thousands of gallons of raw sewage into Lake of the Woods. The treatment plant is only nine years old. Replacing it will cost $1.6 million and town officials say they can’t afford to fix the problem.
The former superintendent of Madison, Indiana’s sewage treatment plant could face up to a year in prison and a $100,000 fine after he was accused of negligently polluting the Ohio River.
Stimulus Spotlight
The town of Schererville, Indiana has started projects that will upgrade its water treatment plant to help reduce sewer overflows and begin the second phase of a sewer interceptor project. The projects cost an estimated $13.5 million but will be supplemented with $2.5 million grant from the economic stimulus.
Sewer Rate News
Gadsden, Alabama
Oceanside, California
Seneca, Illinois
Wolverine Lake, Michigan
