From The Pueblo Chieftain (Chris Woodka):
A new plan, which will be presented at a budget hearing 2 p.m. Tuesday, includes $1.5 million for new Bessemer shares, as well as $550,000 from the water development fund to pay for legal, engineering and capital costs associated with the transfer of the shares. The purchase of Bessemer shares is part of a long-term plan to reduce Pueblo’s dependence on water imports from the Western Slope. Water probably won’t be needed for years to come, so nearly all of the Bessemer contracts include a provision that leases the water back to farmers for the next 20 years.