From The Pueblo Chieftain (Chris Woodka):
Since 2009, the Pueblo water board has spent $59 million to purchase 5,541 shares, roughly 28 percent, of the Bessemer Ditch. The water board bought farms in 2010-11, but needed funds to pay for electric rate hikes in 2012. The board also wanted to hold the line on water rates “We still have an interest in purchasing shares and I’m sure there is interest in selling,” Hamel said. “But we did not budget any money to buy shares this year.”
The water board anticipates spending another $1 million for a change case in Division 2 Water Court, which most likely would be filed in 2013. The change would allow water to be moved from the ditch into the city’s water system. Contracts for the sales allow the water to remain in use on farms for the next 20 years. The change case will cover only those farms purchased by the water board, and will not apply to other water users along the ditch, Hamel said.
More Arkansas River basin coverage here.