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Event Date
LCRA first has discussions 1998
with Austin regarding long-term
water supply contract
San Antonio approaches petitioner 1998
to discuss a competing offer
Petitioner and LCRA sign letter Feb. 18, 1998
agreement for purchase
Public announcement of LCRA Feb. 19, 1998
purchase
Petitioner and LCRA sign purchase July 20, 1998
agreement
Petitioner applies to TNRCC for July 22, 1998
amendment for change of use and
expanded service area for transfer
to LCRA
LCRA and Austin reach water supply Sept. 17, 1998
agreement
TNRCC approves petitioner’s Corpus Oct. 7, 1998
Christi and LCRA applications
Corpus Christi transaction Jan. 7, 1999
closes
LCRA transaction closes Jan. 8, 1999
LCRA and San Antonio reach 80 2002
year water supply agreement
A. Irrigation Component
At the valuation date, petitioner’s only customers for its
water right were rice farmers. The rice farming customers used
approximately 100,000 acre feet of water each year for irrigation
purposes. The sale of this irrigation water produced revenue to
petitioner and was expected to continue to produce income in the
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