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Harquahala Valley, Arizona (local water distribution system),
that would connect with the CAP Colorado River water distribution
system. HID issued $8.4 million in municipal bonds to raise
funds to reimburse the Interior Department for a portion of
construction costs the Interior Department had advanced for
construction of the local water distribution system.
During 1983 through July of 1992, HID and the Harquahala
Valley landowners received annual distributions of Colorado River
water under the Subcontract.
On July 17, 1992, HID sent a written notice to the
Harquahala Valley landowners of a special election regarding
relinquishment of HID’s water rights under the Subcontract. The
notice explained that HID’s proposed relinquishment of water
rights would occur in exchange for payment by the Federal
Government to HID of HID’s debt and bond obligations to the
Federal Government and for the payment of other funds. The
notice further explained that funds HID would have available as a
result of the payment for relinquishment of its water rights,
after expenses and debts, could be distributed to the Harquahala
Valley landowners.
On August 7, 1992, HID and the Federal Government signed an
agreement in principle under which HID agreed to relinquish up to
100 percent of its Colorado River water rights, and the value of
the water rights to be relinquished was agreed to be $1,050 per
acre-foot of water.
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Last modified: May 25, 2011