$600M water deal runs dry / Stockton gives up court appeal in privatization pact
Source: By David Siders, The Record (CA), July 18, 2007
The City Council abandoned the city's landmark, $600 million water privatization deal late Tuesday, dropping its appeal of a court's ruling that the deal was illegal and promising to retake control of water and sewer facilities by March 1.
The decision, reached 5-0 in a private meeting, cheered the Concerned Citizens Coalition of Stockton, which has sought to dismantle the 20-year deal with water giant OMI-Thames Water since the council approved it in 2003.
......... In a separate agreement with OMI-Thames, the two sides struck a partial settlement in which the company will finish upgrading the city's sewer plant and will pay the city about $2.1 million to settle outstanding issues before leaving Stockton next year, officials said.
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