3 ms·

I think the water board can spare ten bucks for interest out of their €130M budget.

• Ericson2314 4y ago
  It is still a waste of administrative labor.
  • htkibar 4y ago
    It has value in terms of being an example of how old these institutions are, not to mention how trustworthy and with lasting power they are. Administrative effort + 10 bucks is _nothing_ compared to that.
  • none_to_remain 4y ago
    Avoiding default is not a waste.
  • hadlock 4y ago
    Paying all and any debts makes it much easier to raise new bonds for future construction and maintenance. News articles like this are like the ultimate letter of credit.
  • Reason077 4y ago
    The legitimate/legal solution would be to buy back the bond and cancel it. But I guess everyone allows to continue because it's a cool piece of history.