Deer Creek Waterworks System and Dyegard Water System in eastern Parker County have new owners now that the final agreement to dissolve a five-year conflict has been signed by all parties.
A court-ordered mediation on Nov. 13 generated the final agreement, but further conflicts stalled the signing of the document.
The coalition of cities and water system ratepayers that had sued the City of Willow Park over the water systems had signed a final agreement on Dec. 11, but interjected clauses not cleared by the City of Willow Park kept a completed transaction at bay. On Jan. 15, Willow Park Mayor Ken Hawkins said with the clauses were cleared and he signed the agreement document.
The agreement has The City of Willow Park selling the Deer Creek Waterworks System to the City of Annetta for $6.1 million plus cash in the Enterprise Funds held by Willow Park, and Dyegard Water System and the portion of the ETJ in the Dyegard’s CCN area of service to the City of Hudson Oaks for $2.8 million plus cash in the Enterprise Fund.
With the agreement, the ratepayers and coalition of cities have agreed to dismiss all Texas Commission on Environmental Quality cases and lawsuits against the City of Willow Park.
The final agreement stipulates the water system purchasers escrow $150,000 with American Title Company as earnest money that would not refundable if the transaction does not close for any reason by fault of either purchaser.