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Resolution MTN WATER Revised - Tracked Changes

Resolution MTN WATER Revised - Tracked Changes

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Published by Ada C. Montague

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Published by: Ada C. Montague on Oct 24, 2011
Copyright:Attribution Non-commercial

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10/24/2011

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RESOLUTION NUMBER XXXX
 
A RESOLUTION SUPPORTING MUNICIPAL ACQUISITION OF THE WATERSYSTEM, ANDSUPPORTING STIPULATIONS ON A SALE OF THE MOUNTAIN WATER COMPANY TO ENSURE ACCESS TO CLEAN, AFFORDABLE ANDRELIABLE WATERAND OPPOSING THE SALE IN THE ABSENCE OF A CLEARPATH TO PUBLIC OWNERSHIP.
 
WHEREAS,
the City of Missoula is committed to ensuring all citizens and businesseshave access to clean, affordable and reliable water, which is an essential publicresource; and
 
WHEREAS,
the City of Missoula is one of the largest customers of the Mountain WaterCompany; and
 
WHEREAS,
 
Missoula’s privately owned water utility, Mountain Water Company, is
being sold by itsstockholders as part of itsparent company, Park Water Company, tothe Carlyle Group; and
 
WHEREAS,
the City of Missoula demonstrates competence and efficiency managingthe municipal wastewater utility; and
 
WHEREAS,
the Carlyle Group
a multi-billion dollar global equity firm
 has noprevious experience managing a municipal drinking water system; and
 
WHEREAS,
in the absence of stipulations on a transaction guaranteeing benefits toconsumers, the control of the water system by a speculative investor may not be in theinterest of the water system users; and
 
WHEREAS,
the City of Missoula demonstrates competence and efficiency managingthe municipal wastewater utility; and
 
WHEREAS,
 
the City has made previous efforts to acquire the water utility at citizens’requests and Mountain Water Company’s management has previousl
y committed tooffering the utility for sale to the City of Missoula;
 
NOW THEREFORE BE IT RESOLVED
that the City Council supports all reasonableefforts by the City of Missoula to acquire Mountain Water Company; and
 
BE IT FURTHER RESOLVED
that the Missoula City Council supports placing astipulation, based on conditions of a settlement agreement among the parties,on thesale of Mountain Water Company to the Carlyle Group that provides the City ofMissoula an enforceable guarantee ofan absolute arightof first refusalto purchase the water utility from the Carlyle Group; and

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