Xenia board hopes to sell out
May 14, 2010

The Fort Dodge Messenger reports that the board of the Xenia Rural Water District wants to sell the system to the Des Moines Water Works for $110.5 million. The district has a large amount of debt and is trying to raise rates to keep up. It's also trying to renegotiate some of its debt to smooth the way for a sale to DMWW. Almost 90% of the system was constructed using long-term debt financing.

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last revised May 2010