2005 Amended and Restated Water Services Franchise
and Service Agreement
between
The City of Jersey City
and The Jersey City Municipal Utilities Authority
dated as of
September 30, 2005

for the complete agreement...   part 1 PDF file
part 2  PDF file

Take a look at this revenue stream being paid from the MUA  to JC!  As the 
ratepayers  keep getting socked with rate increases & thousands of units of 
new housing are built, the JC taxpayers get LESS!  By 2009, the city will be collecting 
HALF of what we collect today!  Does this make sense?  The difference will have 
to be made up in additional services or less service.  Can't imagine a dirtier 
city or more crime which is skyrocketing!

But let's look at the debt.  

Remember the JC MUA HAS UNLIMITED BONDING CAPACITY!
The original intent was to bond and the net proceeds fund the "structural deficit"
of the city.  The structural deficit= expenses exceed revenues.  Years of 
phenominal building and the city is always broke!  Bear in mind, 
within weeks of forming the MUA former Mayor Schundler bonded $36 million and 
$31 million went into the city's 1998 budget to cover the deficit.  The accountants, 
attorneys and bond sales people got a 15% take, $5 Million!   WOW!  Now you 
see why they're always, besides the developers, MAJOR contributors to the
 mayoral campaigns.   The infrastructure is collapsing since the sewers are well 
over 100 years old and a combined runoff/sewer system.  The catch basins stink.  
Stand at a corner especially Grove Street.  Major areas of the city 
constantly flood after minor rain.

Immediately after the 15% rate increase was approved in August, the MUA 
floated more bonds.  This schedule is outdated since Cunningham
floated more bonds in 2003.