Committee to Be formed for Oversee Sewer Sale Proceeds
Bristol Borough Council will meet tonight for an agenda meeting and to discuss how the $50 million will be spent from the recent completed sale of its sewer system to the Bucks County Water and Sewer Authority,
Borough officials confirmed to Lower Bucks Source the sale was completed and funds were deposited into an account that for now is investing in “T-Bills.”
Borough officials said the process of determining what to do with the windfall will begin tonight with the appointment of an investment committee.
The resolution reads “Authorize Appointing Investment Committee to Recommend Investing Proceeds from Sale of Sewer System.”
The agenda for tonight’s meeting can be found here.
In a related matter at last months council meeting Council approved authorizing the hiring of a law firm to collect municipal debts stemming from money owed by residents,
Letters went out last week to resident in arrears for bills. Several residents contacted Lower Bucks Source concerned about losing their homes.
Borough officials in response, said last week they were not looking to throw anyone out of their homes, but property liens would be filed against those with outstanding sewer debts.