The involvement of the private sector in the provision of water supplies is a highly controversial topic. Typically, water supplies across the United States are handled and managed by not-for-profit entities which are overseen by state and local municipalities, meaning the public sector, and more specifically the government. With the public sector at the helm of water provisions, citizens can typically expect to see reasonable prices and clean water. Most have not considered the possibility of their local water supplies being privatized, but the US economy is currently being battered by exogenous effects that are unabating. It is during these times, where cash flows are diminishing, that companies and individuals alike begin to explore ways to cut costs. State and local municipalities face the same set of issues. In some cities and towns, the burden of debt becomes too heavy to bear, and the municipal governing boards have to make hard decisions. The sale of a city’s water system can shift a substantial debt burden over to a private sector company all while providing the city a monetary windfall. Multiple cities in Indiana have gone through this (Douglas, Elizabeth). This can be more likely to occur in small towns that are highly levered who are not able to raise funds as quickly compared to bigger, well-capitalized towns.