Scranton Can't Strike Part Of Wastewater Financing Loan

Law360, Los Angeles (November 13, 2013, 3:07 PM EST) -- A Pennsylvania appeals court Tuesday denied the Scranton Sewer Authority’s attempt to void part of its agreement with a state loan agency giving the agency ownership of “nutrient credits” from a wastewater treatment facility, ruling Scranton's lawyers had approved the agreement before it was signed.

The sewer authority borrowed $11 million from the Pennsylvania Infrastructure Investment Authority, known as Pennvest, at a subsidized interest rate to fund the wastewater treatment facility, according to the ruling. If the facility cleaned up more chemicals than required, the difference...
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