First there are two groups of residents involved:
Residents A (represented by the Mayor)
Residents B (represented by trustees of Citizen's Gas)
Residents A sells the city water and sewer utilities to Residents B. As a result, Residents A receives millions in upfront cash that are used for various projects. Residents B end up millions in debt and pay that debt over the next several decades through higher water and sewer rates.
Of course, Residents A and Residents B are the same people: Indianapolis residents. Folks, we are selling the water and sewer utilities to ourselves, a paper transaction used to generate up front cash for a tax increasing, corporate welfare loving administration that is recklessly spending our tax dollars.
I am not at all against these city utilities being transferred to Citizen's Gas. In fact, I think it's probably a good move for Citizen's Gas as long as a few safeguards are in place. It is the "sale" that doesn't make any sense. Let's just transfer the utilities and forget the pretend sale of the utilities that is nothing more than a last ditch effort by an unpopular Mayor to save himself by handing out election year, pork barrel projects.