Jones Presents Research Findings

Jones Presents Research Findings
June 7, 2006

Robert J. Jones, a Partner in the Public Finance Department and Government Involvement Committee Chair, presented the findings of the research he has been conducting over the past six months regarding the Perkasie Borough Council and its takeover of the Perkasie Borough Authority.

Mr. Jones, along with Howard Woods of Howard J. Woods Jr., and Associates, agreed that the "benefits of a borough takeover are slim to none and are mostly offset by expected inflation in operating costs and the burdens of regulation by the Public Utilities Commission (PUC)."

Mr. Jones concluded that "the borough would have to assume the $11.5 million in liabilities of the Authority in the form of bonds. The borough would have the option to either find a way to assume the Authority's existing bonds or to issue new bonds and replace or refund the existing bonds."