Pittsburgh City Council is headed for a showdown over a proposed $72 million debt refinancing, with its finance chair setting a high noon deadline for the receipt of information and the mayor's chief allies arguing for the use of proceeds to pave streets.

Council Finance Chair William Peduto said today that he wants answers to a slew of questions about the way professionals are being chosen to handle the refinancing, how they will be paid, and how the city's debt payments will change.

"I want the answer by tomorrow at noon," he said. That would give him enough time to digest it before council members meet with city financial advisor Fairmount Capital Advisors on Monday, leading to a tentative vote on the refinancing plan on Wednesday.

If he doesn't get the information, he said, he will seek to delay the vote. The vote is time sensitive because the administration wants the refinancing plan in place before a Sept. 1 debt payment is due.

Mr. Peduto sent an e-mail to fellow council members and the Act 47 recovery team and the Intergovernmental Cooperation Authority -- two state-appointed financial overseers that have so far been kept at arm's length from Mayor Luke Ravenstahl's refinancing plan.

Mr. Peduto wrote that the estimated $3 million savings from the refinancing should go toward reducing the city's debt, pension, retiree health care and workers' compensation shortfalls.

Other council members argue that the windfall from the refinancing should address grinding city needs.

"I think it should be [used for] repaving, demolition and security camera installation," said Councilwoman Tonya Payne.

"All $3 million should be used for paving, for good reasons," said Councilman Jim Motznik. Some areas of the city have seen no repaving yet this year, and rising prices have burned a hole in the asphalt budget.

Earlier this week, James Roberts, co-leader of the Act 47 recovery team, said the Intergovernmental Cooperation Authority had requested details on the refinancing plan. He said the ICA would review the details first and then share them with the Act 47 team.

ICA Executive Director Henry Sciortino said today that he had not received the details as of this morning. He said that, depending on how the refinancing affects the city's budget, the ICA may or may not have to approve it.

He is a former employee of Philadelphia-based Fairmount Capital Advisors. He and Fairmount have been involved in lengthy litigation surrounding his 2004 departure from the firm.

City Finance Director Scott Kunka has said the refinancing will not delay the repayment of city debt, add to its obligations, or include exotic financial instruments.