Milwaukee aldermen late last week put the brakes on a proposal to privatize the city’s water works department and requested that the comptroller’s office that is leading the effort explore other options for tapping the value of the system.

The deferral comes as the comptroller’s office was reviewing proposals from firms interested in working on a buy-side advisory team for the possible privatization of the utility, which was suggested by Comptroller W. Martin Morics as a means to establish a long-term revenue stream to subsidize city operations. The city faces a near-term budget crunch and the long-term strains of growing costs, shrinking state aid, and limited tax-raising abilities due to state caps.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.