From December 2006:
http://forum.skyscraperpage.com/showthread.php?t=43038&page=84
Harrisburg’s trouble-plagued incinerator holds disposal contracts with Dauphin, Cumberland and Perry counties. Dauphin County pledged its guarantee behind a part of the $125 million in bonds floated to renovate the plant.
The overhaul was supposed to turn the incinerator into a model of efficiency, capable of consuming 800 tons of trash daily and generating steam and electricity for sale.
Instead, the plant was four months late coming on line this year and has performed nowhere near its rated capacity, missing its first-year revenue projection by $14.3 million.
So, 125 Million wasn’t for the plant, it was to RENOVATE the plant. Yet the outstanding debt is now 188 million. How did we get there? Balloon mortgage? Negative Amortization? No, they just didn’t pay their note last year, and apparently won’t pay it this year.