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Agency Approves $120M In Borrowing To Replace Newark Water Lines Agency Approves $120M In Borrowing To Replace Newark Water Lines
Agency Approves $120M In Borrowing To Replace Newark Water Lines A plan to replace all lead service lines delivering water to 18,000 Newark homes cleared another hurdle Wednesday, when a state financial oversight agency approved a plan to issue $120 million in bonds to finance the project.  “The permanent solution is to replace our lead service lines and expedite this process,” Mayor Ras Baraka said. “The Local Finance Board’s adoption of the bond provides us with the financial backing to do so, and significantly increase the pace of our work."  A county agency, the Essex County Improvement Authority, would issue the bonds to pay for the projec…

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by Paul Milo