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UTILITY SALE: South Whitley’s water valued at $1.4M

October 24, 2013

SOUTH WHITLEY — Town officials reviewed appraisals on South Whitley’s water and infrastructure at Tuesday’s council meeting.

An average value of $1.4 million was derived from two appraisals.

The assessment was conducted when town leaders started to entertain the idea of selling the town’s water utility to American Water, a company that services 1.2 million people in 126 communities throughout Indiana.

Town Council member Steve Smith wanted clarification that the bid for sale might differ from the appraised value.

“Your proposal for sale may not be reflected in these appraisals,” Smith said.

“Just because we got an appraised value doesn’t mean that’s the sales price. I want to make that clear.”

Representatives from American Water were on hand and agreed to Smith’s assumptions.

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