Aqua Indiana Takeover Challenge

By Mike Green

June 18, 2010 Updated Jun 4, 2010 at 5:17 PM EST

(Fort Wayne) -- Aqua Indiana is vowing to pursue all legal means to fight the city of Fort Wayne's planned takover of the north water system.

The utility calls the city's eminent domain proceedings a "highly risky financial undertaking."

Aqua Indiana claims the action will mean higher water rates for city customers and a loss of revenue from one of the city's largest property taxpayers.

"They're going to have to find a way to pick up the millions of dollars that we provide in property taxes also," said Bill Etzler, Aqua Indiana regional manager.

The Board of Public Works recently adopted two appraisals of about $17 million, which Etzler says doesn't come close to the fair market value of the water system.

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