Sale of Kane sewer system appears on track

By: 
Ted Lutz
Staff Writer

The sale of the Kane sewer system to a private company appears to be on track.
Pennsylvania American Water last July offered to buy the sewage system for $17,560,000.
After the payment of debt and legal fees, net proceeds are estimated at $12 million.
Under an agreement, the borough of Kane is expected to receive 80 percent of the net proceeds or about $9.6 million.
Wetmore Township would receive 20 percent or about $2.4 million.
The Kane Borough Sewer Authority held a special meeting Tuesday to discuss the proposed sale.
The authority did not take formal action at the 12-minute meeting at the borough building on Bayard Street.

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