FORT WAYNE, Ind. (AP) — The city of Fort Wayne’s purchase of a private water utility is moving forward after about a decade in the making.
Fort Wayne’s Board of Public Works voted this week to approve a $67 million purchase of Aqua Indiana’s system on the city’s southwest side. The city council also must approve the agreement, and the Indiana Utility Regulatory Commission has final say. The deal could take six months to win those approvals.
Part of the proposal includes a $63 million loan to pay for the purchase so city utility customers won’t need to. Aqua Indiana customers will move to the city’s system and could save as much as $140 yearly paying city rates.
The revenue from about 12,500 new city customers is expected to cover the cost.
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