Harrisburg, PA – Today, Governor Josh Shapiro announced the investment of $274 million for 30 drinking water, wastewater, stormwater, and non-point source projects across 22 counties through the Pennsylvania Infrastructure Investment Authority (PENNVEST). The projects include replacing lead or other corrosive pipes, rehabilitating aging systems, upgrading service capabilities, extending service to more communities, and reducing environmental contaminants through compliance with current regulatory levels and agricultural Best Management Practices (BMP’s).
The Shapiro Administration continues to focus on infrastructure upgrades with the goal that every Pennsylvanian has access to clean water.
“My Administration is focused on protecting public health and the environment across the Commonwealth – and these investments will help to uphold Pennsylvanians’ constitutional right to clean air and pure water," said Governor Josh Shapiro. "Thanks to our federal partners in the Biden Administration and the hard work of PENNVEST, $12 billion has been invested to safeguard our clean water infrastructure and the health and safety of Pennsylvanians, and we’ll continue to drive this funding out to ensure Pennsylvanians have safe, clean water.”
The funding for these projects originates from a combination of state funds approved by voters, Growing Greener funds, Marcellus Legacy funds, the Infrastructure Investment and Jobs Act (IIJA) stimulus funds, the federal grant awards to PENNVEST from the U.S. Environmental Protection Agency under the Clean Water Act and the Safe Drinking Water Act Amendments, and the recycled loan repayments from previous PENNVEST funding awards.
“For more than thirty-six years, PENNVEST has been dedicated to the mission of providing resources for clean water across the Commonwealth. In those three decades, we have seen communities grow, aging towns and cities revitalized, and farmers take a stronger approach to responsibly managing land,” said PENNVEST Chairman Dr. Brian Regli. “As a result, today we cross the threshold of $12 billion invested in clean water projects by PENNVEST. This monumental achievement is a testament to the hard work of so many and a continued promise by the Shapiro Administration to ensure the health and safety of Pennsylvanians.”
A list of project summaries follows:
Drinking Water Projects
Blair County
- Altoona Water Authority – received a $7,500,000 loan to replace approximately 15,000 linear feet of aging cast-iron 8-inch and 12-inch waterline serving the municipalities of the City of Altoona, and Logan, Allegheny, and Frankstown Townships. A portion of the project will address lead-impacted galvanized pipe in an area that will be a part of PennDOT’s improvement and paving project expected to take place in mid-2025. The project will eradicate continual repairs from breakage and leaking issues that the Authority is currently experiencing, eliminate outages, pressure drops, loss of water and dirty water the consumers have faced. The coordination of this project with PennDOT’s project plan will also save money for water ratepayers due to decreased pavement restoration costs.
Bucks County
- ***Aqua Pennsylvania, Inc. – received a $6,770,000 grant to install Per- and Polyfluoroalkyl Substances (PFAS) equipment consisting of six (6) 10-ft diameter filter vessels with anion exchange resin, three (3) new low lift pumps to push treated water through the vessels, and a 97,000-gallon waste holding tank to equalize backwash prior to disposal by trucking. The project will minimize the presence of Perfluorooctanoic Acid (PFOA) and Perfluorooctanesulfonic Acid (PFOS) in the finished water via treatment of the existing Edgley groundwater well field source. The reduction of PFAS levels due to this project will bring the Edgely well into acceptable levels defined by DEP.
Erie County
- ***Erie City Water Authority – received a $238,205 grant and a $471,795 loan for
Phase 5 of a project to replace the existing wrought iron service lines containing leaded goosenecks primarily within the Borough of Wesleyville and Lawrence Park Township. The City of Erie’s lead remediation falls within the funding from previous phases of this project. All phases of this project will decrease potential lead contamination in the system and reduce water loss due to pipe leakage.
Indiana County
- Indiana County Municipal Services Authority – received an $8,655,920 grant and a $5,369,240 loan to create better efficiency by consolidating the system. The project addresses four (4) waterlines, Rt. 403 Cameron Road Waterline, Rt. 422 Iverson Road Waterline, School Road Area Waterline and Penns Manor to Uniontown Waterline, as well as the East Pike Pump Station. The waterline portion of the project will include the installation of a total of 79,088 linear feet of new waterline, 7 service connections, appropriate appurtenances, and two (2) above ground metering stations. The East Pike Pump Station project includes the demolition of the existing pump station, the installation of a new prefabricated, above-grade pump station with two (2) pumps, telemetry and metering, a distribution supervisory control and data acquisition (SCADA) system, and a hookup for a mobile generator in event of a power outage. New 2” and 6” Pressure Reducing Valves (PRV) will also be installed in the Ernest PRV Vault. The project also includes the installation of 177-meter pits for each customer tap as well as 45 hydrants throughout the project area. This project will enhance availability and provide potable water to customers with wells of poor water quality or quantity, provide fire-fighting water to areas without current capabilities, and allow for three (3) of the water systems to have a backup source in emergency situations as a part of the interconnections.
Lawrence County
- Wampum Borough – received a $2,395,496 grant and a $1,004,504 loan to replace existing distribution waterlines with lead joints primarily in the areas of Clyde, Kay, Main, and Beaver Streets. The distribution line replacement includes 9,200 lineal feet of 6” ductile iron waterline and 100 lineal feet of 12” steel casing with 6” ductile iron waterline including appurtenances and restoration. Additionally, the existing water distribution system, dating back to 1905, has tuberculated and cracked cast iron pipes which also need to be replaced. The project will reduce the risk of lead poisoning and lead levels to the community by eliminating lead components in the public water system. The removal of the existing cast iron tuberculated and cracked pipe will also improve water quality for the end user.
- ***Wampum Borough – received a $1,600,000 grant to remove and replace lead service lines that have been in place since 1910 and 6” cast lead joints primarily in the areas of Clyde, Kay, Main and Beaver Streets. Approximately fifty (50) ¾” water service lines that contain lead joints will be replaced with new copper water lines, in addition to main line repairs and restoration. The replacement of leaded service lines will eliminate the possibility of lead contamination to the public water system and prevent a threat to public health and safety.
Luzerne County
- Borough of Freeland Municipal Authority – received a $3,639,000 loan to replace the Upper Lehigh standpipe tank that is in poor condition and has a low tank turnover rate of approximately 12 days. The project includes the construction of a new 100,000-gallon elevated finished water storage tank, tank mixer, approximately 800 linear feet of 8-inch water main extending to the new tank, altitude valve vault, and a 10’ x 10’ fiberglass building. The valve vault will house an altitude valve to open and close based upon the tank level and include a pressure transmitter to monitor and record the tank level. A submersible tank mixer will be installed to prevent stagnation and thermal stratification to provide uniform water age and reduce ice buildup. The project will also include the demolition of the existing Upper Lehigh tank once the new tank is in operation. These improvements will enhance water flow in portions of the service area that currently experience poor water quality. The project will also allow the existing Harding Street Tank to be taken out of service for rehabilitation work while maintaining adequate pressure and emergency storage for the system’s customers.
- Hazleton City Authority – received a $1,425,000 loan to replace a deteriorating, cast-iron water transmission line in Hazle Township. This project includes the installation of approximately 1,500 linear feet of ductile iron pipe and approximately 60 feet of copper pipe. The project will also include the removal and disposal of existing pipe, valves, and appurtenances, installation of fire hydrants, mobilization and demobilization, maintenance and protection of traffic, and Erosion and Sedimentation (E&S) Controls. Project benefits to the Borough of West Hazleton, the City of Hazleton, and the Township of Hazle include increased water service reliability, a reduction in water loss in the system due to reduced potential for watermain breaks, and the ability to meet water demand as new users are introduced to the system.
Wastewater Projects
Allegheny County
- **Bethel Park Municipal Authority – received a $15,000,000 loan to construct a new grit and headworks facility to replace the outdated and inefficient screening and grit removal system currently serving Bethel Park Borough and South Park Township. The project includes relocating a portion of the Catfish Run interceptor that serves as the influent to the interceptor allowing for the true separation and monitoring of the Catfish Run and Piney Fork interceptors. Also included is the installation of portions of interceptor sewer to convey the existing interceptors to the new headworks facility, new in-line flow meters, a coarse screen upstream of the new wet well, raw sewage pumps, fine screens downstream of the new raw sewage pumps along with screenings washing and compacting, gravity vortex grit removal units, and grit pumps/grit washing and conveyance facilities. Portions of the plant’s solids processing system will be upgraded and will include the construction of a gravity sludge thickener, solids processing centrifuge, solids handling pumps, associated sludge removal/conveyance facilities and phosphorus removal facilities. This project will bring the Authority into compliance with effluent limits. Actions taken during the construction of this project will also improve the condition of the eroded streambank around the Piney Fork treatment plant and the water quality of any stormwater discharge.
Berks County
- **Amity Township – received a $20,400,000 loan to upgrade and expand the current wastewater treatment plant. System upgrades in the project include the replacement of the Pista Grit removal system, automatic screen, influent pumps, weirs, baffles, waste activated sludge (WAS) and return activated sludge (RAS) pumps, a chlorine disinfection system to introduce ultraviolet disinfection, utility water pumps, lagoon liner, and underdrain systems. Other upgrades and new equipment include installation of a high flow passive bypass around the new grit removal unit, a new splitter box, upgrade and upsizing of the aeration rotors in the existing oxidation ditch, constructing a new three ring oxidation ditch, constructing a new 50-feet diameter final clarifier and new RAS/WAS pump station connecting to the new final clarifier, effluent flow meter, supervisory control and data acquisition (SCADA) system, conversion of two (2) anaerobic digesters and three (3) primary clarifiers into covered aerobic digesters. This project will improve water treatment that impacts the Schuylkill River and bring the plant into compliance with effluent limits.
Blair County
- DelGrosso Foods Inc. – received a $4,300,000 loan to construct a necessary
pre-treatment facility for the effluent created by the renovated Delgrosso Foods Kristel Lane facility. This project is part of a corrective action plan agreement between DelGrosso Foods, Northern Blair County Regional Sewer Authority (NBCRSA), Tyrone Borough, and Logan Township. Included in this project will be the installation of 790 linear feet of 8” gravity conveyance, an influent pump station, 200,000-gallon effluent tank, a strainer system, a dissolved air flotation system capable of treating a 200,000 gallons per day, and an effluent pump station connecting to a previously installed force main to a receiving manhole on the NBCRSA collection system. Pre-treatment of the effluent prior to it entering the NBCRSA conveyance system will decrease clogging issues within the NBCRSA conveyance siphons from the fats and greases in the effluent created by the DelGrosso food plant.
Dauphin County
- ***Derry Township Municipal Authority – received a $4,191,077 grant and a $10,193,923 loan to install a biosolids drying and gasification system to reduce Per- and Polyfluoroalkyl Substances (PFAS) compounds from entering the Clearwater Road wastewater treatment plant through influent. The major biosolids drying and gasification system components to be installed include an Ecoremedy Advanced Fluid Lift gasifier, an Ecoremedy oxidizer and flue gas tempering chamber, an excess energy heat exchanger, a conventional single pass rotary drum dryer, a high efficiency multiclone, a variable throat venturi scrubber with fugitive dust collection system, and a packed media horizontal scrubber for capturing sulfur compounds. The project is expected to reduce PFAS compounds in treated wastewater to non-detectable limits.
Luzerne County
- ***Conyngham-Sugarloaf Joint Municipal Authority – received a $12,750,000 loan to install upgrades to the current wastewater treatment facility as well as create a secondary treatment process. Upgrades to the current facility include converting the aeration tanks to digesters to include covers and an aeration diffuser system, installing new ultraviolet disinfection equipment and effluent magmeter, cleaning and refurbishing the tanks and adding a new concrete roof, access hatches, ladders, lighting and heating, ventilation, and air conditioning (HVAC), converting of the chlorine contact tanks to a new plant water system that includes a wet well, submersible pump and hydropneumatics tank, and refurbishing the existing control building to serve as a maintenance building with upgraded HVAC and electrical systems. The new secondary treatment process includes the installation of a new submersible influent pump station, enclosed screening facility, grit removal system, control building with lab, office, and process equipment areas, chemical feed systems, piping and valves, and a new supervisory control and data acquisition (SCADA) system, along with instrumentation and electrical work. This project reduces untreated sewage overflows at the plant and brings the plant into compliance for hydraulic capacity and monthly organic load levels.
Mercer County
- Borough of Jackson Center – received a $4,840,434 grant and a $2,029,741 loan to construct a new 98,000 gallons-per-day wastewater treatment facility, including systems and equipment, to replace the current plant that is deteriorating structurally and mechanically. This project will bring the plant into compliance for effluent discharge standards and ensure adequate wastewater treatment for the Borough of Jackson Center and a portion of Jackson Township communities.
Montour County
- ***Danville Municipal Authority – received a $6,453,604 grant and a $10,408,396 loan to replace a 50-year-old pump station, force and gravity mains, and upgrade dewatering and digester equipment. Included in the pump station portion of the project are demolition of the existing pump station, construction of a new pump station, and the installation of two (2) submersible pumps, a wet well, two (2) access aluminum hatches, a 4X stainless steel control panel under a canopy, and a new generator. The force main portion will replace the existing 4-inch main with 2,340 feet of 6-inch polyvinyl chloride main. In the gravity main portion, the force main discharge will be rerouted from the East Market Street gravity sewer to the Franklin Street sewer. This part of the project will include the replacement of ten (10) manholes, and the installation of an additional three (3) manholes and 3,300 linear feet of plastic wrapped, ductile iron sewer pipes. Lastly, a new dewatering building will be constructed, the digester recirculation and mixing pumps will be replaced along with a new belt filter press with dewatering centrifuge, and various piping, electrical, and instrumentation work will be performed. This project will address safety concerns around the structural viability of the existing pump station, increase reliability and efficiency, and provide the station with adequate equipment storage.
Northampton County
- Bangor Borough Sewer Authority – received a $2,094,727 loan to update inadequate, failing, and aged equipment. The project plan will include replacement of the two (2) headworks pumps with variable frequency drives, drive controlled pumps with advanced controls, the control and monitoring system at the digester building with a system allowing for real-time operational monitoring and remote control, and the installation of a 569,000-gallon equalization tank and effluent flow meter. Grading improvements around the plant will also be made for protection in flooding events. This project will address hydraulic overload and effluent limitation issues currently experienced during wet weather which impacts Martin’s Creek, Bangor Borough, Roseto Borough, and Washington Township.
Northumberland County
- Borough of Riverside – received a $1,000,000 loan to replace an existing sanitary sewer. Through the project, the Borough plans to reconnect 56 residences to the West End Sanitary Sewer. Included in the project is the replacement of existing small diameter sewers to new increased diameter 8-inch polyvinyl chloride gravity sewer mains, the decommissioning of existing septic tanks, and the rerouting of existing laterals around the decommissioned tanks. Also to be installed will be new lateral stubs with cleanouts, a 4-inch diameter force main and additional 8-inch sanitary sewers routing to the Avenue E pump station. This project will address groundwater and surface water infiltration currently due to septic tank washout and agricultural fertilizer infiltrating into the sewer which impacts Kipps Run, a cold-water fishery, that flows into the Susquehanna River.
Philadelphia County
- **City of Philadelphia – received a $77,529,900 loan to construct a side-stream treatment facility to reduce ammonia discharge at the Southwest water pollution control plant’s biosolids recycling center. The facility construction plan includes the installation of
two (2) 0.46-MG capacity equalization tanks, two (2) 1.3 million-gallon deammonification bioreactors, and the construction of an ancillary building to include an equipment gallery, process analysis room, conference room, control room, electrical room, and a chemical feed room. This project will reduce the total influent ammonia load by approximately 75 percent, impacting Mingo Creek which discharges into the Schuylkill River, and ultimately into the Delaware River.
Schuylkill County
- North Manheim Township Authority – received a $2,345,265 loan to extend the public sewer system to service 55 equivalent dwelling units within the township. The extension project includes 4,800 linear feet of 8-inch polyvinyl chloride sanitary sewer, thirty (30) 4-foot diameter precast concrete manholes, wyes, laterals, cleanouts, utility coordination, traffic control and associated site restoration. This extension will eliminate 21 on-lot disposal systems that are currently reported as malfunctioning, address additional systems that are suspected of malfunction, and reduce high nitrate levels reported in the water sampling of ten (10) properties in the project area.
- ***Tamaqua Borough Authority – received a $12,207,701 grant and a $7,792,299 loan for improvements and upgraded equipment at the wastewater treatment plant. The improvements entail the construction of new headworks and boiler buildings with new digester gas handling equipment, the installation of one (1) flash mix tank, supervisory control and data acquisition (SCADA) system, and piping, the rehabilitation of the primary and secondary clarifiers, aeration tanks, and primary digester, the refurbishment of the laboratory, and replacement of aeration blowers, chlorine gas system with sodium hypochlorite disinfection, belt filter press with a dewatering screw press, the conversion of two (2) aeration tanks to swing equalization basins, the installation of a magnesium hydroxide system, and upgrades to the plant’s electrical service, as well as site work associated with the improvements. This project will bring the plant into compliance and allow the plant to run more efficiently and reduce energy usage.
Tioga County
- Westfield Borough – received a $957,846 grant and a $401,654 loan to place approximately 2,300 linear feet of sanitary sewer pipe serving Westfield Borough and portions of Westfield Township. Failing 6-inch vitrified clay pipe will be replaced with 8-inch high density polyethylene pipe using trenchless rehabilitation techniques. All existing laterals will also be replaced, and new cleanouts will be installed, from the sewer main to the property line. This project will improve the reliability and performance of the sanitary sewer system, prevent future sinkholes due to current structural deficiencies, and reduce operational and maintenance costs for the plant.
Wayne County
- Lackawanna River Basin Sewer Authority – received a $5,345,708 loan for improvements of the secondary clarifiers at the Clinton Township wastewater treatment plant. The project will include the construction of two (2) 50-foot diameter circular clarifiers with a combined volume of 705,000 gallons and two (2) rectangular clarifiers with a combined volume of 146,000. Also being constructed is a 1,000 square-foot return sludge pump station building containing three (3) 360 gallons-per-minute (GPM) return sludge pumps and two (2) 1,000-gallon magnesium hydroxide chemical storage tanks and associated chemical feed equipment. In addition, approximately 1,300 linear feet of underground process piping associated with the clarifier tanks will be installed as well as the replacement of two (2) 100 GPM utility water pumps and approximately 650 linear feet of utility water yard piping consisting of 1″ – 4″ pipe. These improvements will increase the quality of treated water during wet weather high flows.
Westmoreland County
- Latrobe Municipal Authority – received a $2,591,191 loan to improve electrical distribution and control systems in the sewage treatment plant. The upgrades consist of installing a new main switch, circuit breakers, wire junction boxes, conduits, enclosure pads, disconnects, supervisory control and data acquisition (SCADA) system, network switches, communication cabling and cyber security upgrades including computer software, programmable logic controllers, and additional network switches. Deteriorated concrete will also be replaced at the first stage clarifier tunnel. These improvements will prevent operation failures in the plant and increase security.
York County
- **Dallastown Borough – received a $6,152,000 loan to extend the Colonial Park area public sewer system to service 75 single-family residential homes and 2 dual-family residential homes. The extension project includes the installation of approximately 10,440 linear feet of 8-inch diameter gravity collector sewers. A new submersible pump station will also be constructed, and an additional 1,318 linear feet of force main will be included in this construction. This project will eliminate on-lot systems that are suspected to be malfunctioning as they need to be pumped more often than the mandated 3-year schedule.
Stormwater Projects
Clarion County
- Clarion Borough Stormwater Authority – received a $510,450 loan to replace deteriorated stormwater infrastructure along the Grand Avenue Extension. The project will include the excavation and removal of deteriorated corrugated metal piping, concrete inlets, inflow and outflow headwalls, as well as the construction and installation of a new concrete inflow and outflow structure, eight (8) 2 x 4 concrete inlets, one (1) 4-foot diameter concrete manhole, 830 lineal feet of 24-inch, high density polyethylene storm sewer pipe, and the connection of the new piping to existing infrastructure. The final part of the project will include the restoration of 35 square yards of paved roadway, 70 square yards of bituminous driveway, 20 square yards of concrete driveway, 10 square yards of gravel driveway 510 square yards of unpaved restoration, and 40 lineal feet of concrete curbing. The replacement of corroded metal stormwater piping is anticipated to prevent sinkholes from forming in the project area as well as prevent first-floor flooding issues frequently experienced at the Eagle Park Apartment complex.
Dauphin County
- Hershey Lumberyard, LLC – received a $2,894,040 loan to construct a new storm sewer system in the former industrial lumber operation site that is now vacant and being planned for redevelopment. New construction of a storm conveyance system consists of installing 2,510 linear feet of stormwater pipe, 34 inlets, and manholes. Also to be constructed is an underground pipe and stone storage stormwater detention facility with an 8,349 square-foot footprint, and 20,000 cubic-foot total storage volume. To manage infiltration, landscaping will add 81 trees and 28 shrubs to the project site. The project will also include 12,250 square feet of paving in the storm trench, addressing unsuitable soils, site preparation and restoration, demolition of existing asphalt and concrete pads, and rock removal. This project will alleviate ongoing flooding issues adjacent to the project site and downstream of the site, reduce the risk of sinkhole formation, and make the property more desirable for potential redevelopment.
Non-Point Source Projects
Beaver County
- Beaver County Conservation District – received a $1,377,000 grant to upgrade the Wright Brothers Dairy Farm’s nutrient management operations and stormwater controls. The project includes the construction of new facilities for feeding and resting areas, three (3) manure facilities for the storage of solid and liquid manure, a gravel pad for storing silage bags, a cattle walkway, and a grassed waterway. A new pump, electric line and waterline will be installed in an existing cistern to convey water to the new buildings. The project will result in an anticipated reduction of 2,473 pounds per year in nitrogen, 357 pounds per year in phosphorus, and 56,800 pounds per year in sediment that impact an unnamed tributary of Brush Creek, which is designated as a warm water fishery and is listed as an impaired waterway.
Dauphin County
- **Capital Region Water – received a $13,300,000 loan for a Green Stormwater Infrastructure (GSI) Programmatic Financing project in the City of Harrisburg. The project will take place over four (4) phases. Phase 1 of the project will involve the construction of green stormwater infrastructure elements to manage approximately twelve (12) acres of impervious area from three (3) lots in the city. Phase 2 incorporates green stormwater infrastructure into the design of four (4) city parks. Phase 3 will focus on the separation of combined sewer systems into four (4) distinct storm sewer systems along the Paxton Creek corridor. Phase 4 will address right-of-way drainage in the Riverfront Park area. The four (4) phases will utilize combinations of several green stormwater infrastructure elements including modular subsurface storage, stormwater tree trenches, bioretention raingardens, pervious pavements, stormwater bump outs, flow through planters, bioswales, and slow-release control structures. All phases of this work incorporate GSI strategies, contributing to the reduction of bacteria, sediment, siltation, nutrient loads, and suspended solids caused by combined sewer overflows and urban stormwater runoff.
Huntingdon County
- Huntingdon County Conservation District – received a $2,550,000 loan to institute Best Management Practices at the Conrad Family Farms. Project installation includes two (2) roofed heavy-use areas, manure stacking buildings, concrete heavy-use areas, roof runoff controls, stormwater drop-boxes, waterline, and stormwater pipes. The project will allow animals housed at satellite farms to return to the home farm, eliminating 2.4 acres of “Animal Concentration Areas.” Anticipated project results will be reductions of 5,786 pounds per year in nitrogen, 126 pounds per year in phosphorus, and 11,481 pounds per year in sediment that impact an unnamed tributary of Warriors Mark Run, which is designated as a high-quality cold-water fishery and is listed as an impaired waterway.
Northampton County
- Bethlehem Township Municipal Authority – received a $5,517,000 loan to improve stormwater management along Easton Avenue. The project includes a series of green infrastructure improvements that include upgrading (retrofitting) three stormwater detention basins and creating a fourth, all for the purpose of acting as water-quality bioretention facilities with additional water storage capacity. Also included in the project will be the clearing of brush and debris, installation of erosion and sedimentation control measures, precast concrete end walls and riprap aprons, removal of accumulated sediment, replacement or modification of existing outlet structures and outfall pipes, bioretention seeding, and tree and shrub plantings. The project addresses a critical safety hazard by mitigating the risks associated with frequent flooding. These measures also directly address water quality issues impacting Nancy Run and the Lehigh River.
*Denotes projects that are funded by Drinking Water State Revolving Funds (DWSRF).
**Denotes projects that are funded by Clean Water State Revolving Funds (CWSRF).
***Denotes projects that are funded by the Infrastructure Investment and Jobs Act (IIJA).
For projects noted above as funded with DWSRF, CWSRF, and IIJA federal funds, the use of the word ‘grant’ within this release is defined as a principal forgiveness loan, which is the functional equivalent of a grant in that it does not require repayment. For those same projects with loan terms extending beyond 20 years, the use of the word ‘loan’ equates to a bond purchase.
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