Who owns what? What owns whom?
So as a result Scranton was going to try and 'sell' their sewer authority as a means to raise cash. A little trick they may have learned from us actually. Turns out they can't sell their sewer authority, because they don't really own it in the first place.
That is just the beginning of how convoluted their financial situation is... it all makes our notional parking asset look as solid as a contract on soybean futures at least.
A sad note in municipal finance minutia that does not impact us? There were some real questions over the absolute and final ownership of some of the city's parking assets back when the city was trying to liquidize their value. It also comes up when talk of 'privatizing' the sewer authority comes up. You really have to wonder about all the overlapping liability of debt and ownership that underlie all the special districts and authorities in the region. It all because very metaphysical very fast when you think about it too much. You could never draw all the lines (dotted or not) if you wanted to.