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Council continues decision on purchase of four irrigation water shares; price noted in packet
Summary
The council agreed to continue action to purchase four irrigation water shares (packet price $37.50 per share) to the next meeting and to prepare a contract for the purchase before fiscal-year end.
The council discussed an opportunity to purchase four irrigation water shares that a seller offered at $37.50 per share and agreed to continue action to the next meeting so staff can prepare a contract and complete any necessary paperwork.
Council members said the town wanted to acquire shares before the fiscal year end, but that a formal contract should be on the agenda for a future meeting. Staff said the shares would be used as irrigation water and that the water conservancy district would not require the town to give up existing municipal shares; the district’s concern is large-scale buying that might conflict with its acquisition plans.
The council directed staff to place the purchase contract on the next meeting’s agenda and to prepare funds so the town can complete the purchase within the current fiscal year.
Ending: Item continued to next month for a contract vote; packet listed price as $37.50 per share for four shares.
