- 10 - On August 11, 1992, the Harquahala Valley landowners, including the partnership, held an election in which they approved relinquishment by HID of the Colorado River water rights under the Subcontract. On December 1, 1992, a final agreement (Master Agreement) was entered into between the Interior Department and HID for relinquishment or termination of HID’s water rights under the Subcontract. Thereunder, HID relinquished to the Interior Department its rights under the above 1983 water supply Subcontract to receive over the course of the next 40 or more years Colorado River water, and the Interior Department agreed to discharge HID's debt to the Federal Government in relation to the construction of the local water distribution system and to pay HID $28.7 million. The Master Agreement acknowledged that the terms and conditions under which HID relinquished its Colorado River water rights were approved by the Harquahala Valley landowners. The Master Agreement provided that, in entering into the agreement, HID was acting in its capacity as a municipal corporation of the State of Arizona and that there existed no third-party beneficiaries to the Agreement. Under the July 17, 1992, notice to the landowners and under the Master Agreement, landowners who did not agree to relinquishment of their water rights had the option to continue to receive Colorado River water under the 1983 Subcontract.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011