Consultant: Muskegon County's wastewater facility has 'as much debt as equity'

Consultant: Muskegon County's wastewater facility has 'as much debt as equity' | MLive.com: "MUSKEGON, MI – A third-party consultant has recommended a conservative financial approach at the Muskegon County Wastewater Management System.
Utility Financial Solutions Vice President Dawn Lund spoke at a meeting of the Muskegon County Board of Commissioners Tuesday, Aug. 12.
She recommended against taking on additional debt for capital improvements, and in favor of a series of scheduled increases to the wholesale sewer rates it charges cities and townships.
...."There is as much debt in the system as there is equity in the system," Lund said. The system has about $65 million in debt and its remaining equity is worth roughly the same amount, she said.
.....To keep money for repairs coming, Lund recommended Wastewater facility increase its wholesale rate for receiving sewage by 4.3 percent every year for the next five years – 2015-2019. 
Last year, the rate was increased by 5.2 percent."(almost 30% increase in 6 years!)