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ORDER OF 7,229 ACRE-FEET OF CAP WATER FOR 2015
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RECOMMENDATION:
Approve an order of 7,229 acre-feet of water from Central Arizona Project (CAP) for calendar year 2015.
PURPOSE:
The purpose of this action is to authorize the annual water purchase of renewable water supplies within the City's water resources portfolio for use in calendar 2015. The water financial model includes $600,000 in 2014-15. An additional $600,000 is to be from increased revenues from the already approved January 2014 rate increase. Council approval is required for the order of 7,229 acre-feet of water and to authorize $1.2 million in related budget transfers. CAP Subcontractors, like the City, must order CAP water by October 1 of the calendar year prior to use. (Mark Holmes, Water Resources Manager)