"... The city owes $74 million for wastewater department employees' pensions, but it only has to pay about $6.4 million per year. Currently, the city has $74 million in cash that it planned to spend on wastewater improvement projects in the next two to three years. Instead, it will use that money to pay off the department's total pension liability this year and take out $74 million in bonds this spring to make up the difference."