Butler City Council will host a community forum on how to use the money potentially coming to the city from the sale of the Butler Area Sewer Authority.

Council discussed having the forum at 6:30 p.m. July 26 at the Butler City Farmer’s Market, off Shore Street. City council heard from four financial advisers on how Butler administrators could best invest its share of the $231.5 million from Pennsylvania American Water Company over the coming years.

Pennsylvania American Water Company has offered Butler and Butler Township $231.5 million for BASA’s assets, which the municipalities will split evenly after the authority’s debts are paid off. The sale is still being evaluated for approval by the Pennsylvania Public Utilities Commission.

Butler City Council will host a community forum on how to use the money potentially coming to the city from the sale of the Butler Area Sewer Authority.

Council discussed having the forum at 6:30 p.m. July 26 at the Butler City Farmer’s Market, off Shore Street. City council heard from four financial advisers on how Butler administrators could best invest its share of the $231.5 million from Pennsylvania American Water Company over the coming years.

Pennsylvania American Water Company has offered Butler and Butler Township $231.5 million for BASA’s assets, which the municipalities will split evenly after the authority’s debts are paid off. The sale is still being evaluated for approval by the Pennsylvania Public Utilities Commission.

Also at the meeting, financial consultants with NexTier spoke to again pitch ideas on how the city could best invest the money. Representatives from the bank first talked to council on Thursday, March 23, kicking off the city’s series of presentations regarding how it could use the sale money.

Mayor Bob Dandoy said the city heard from some advisers more than once to ensure officials get as much information as possible before choosing an adviser to help them handle the money.

“The concern is we’re just going to burn through this, and I want to make sure we don’t burn through this,” Dandoy said.

After hearing the presentation, council members weighed the pros and cons of each of the four agencies, which presented. Dandoy said because council is not sure if, or when, the money will come in, they don’t need to select an adviser immediately, and there is no firm timeline for when they would implement a plan for the money.