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PORT HADLOCK — Jefferson County Public Utility District commissioners took the first step toward purchasing the Tri-Area water system this week.
Commissioners authorized General Manager Jim Parker to sign a letter of intent to purchase the system from Port Townsend.
The Port Townsend City Council will need to authorize City Manager David Timmons to approve the letter of intent. That is expected to occur this month.
Both governments will have 90 days to pull out of the deal after it is approved. During that period, the utility district will have to arrange financing for the purchase.
Port Townsend will exchange the Tri-Area water system for the county utility’s Glen Cove system as part of the deal.
The county utility will also pay $2.2 million to the city to compensate for the difference in the value of the two water systems.
This full report appears in the Friday/Saturday Port Townsend-Jefferson edition of the Peninsula Daily News, on sale throughout Jefferson County. Or click onto “Subscribe” at left to order your copy via U.S. mail.