VISALIA, CA--(Marketwired - Nov 12, 2015) - As announced today via an 8-K filing with the Securities and Exchange Commission, California Water Service (Cal Water) has been notified that the City of Visalia intends to conduct an appraisal of Cal Water's water system properties. Although the City may or may not make an offer to purchase the drinking water system after the appraisal is complete, this is typically the first step in a hostile takeover, according to Cal Water spokesperson Shannon Dean.
"Our system is not for sale, whether the City opts to spend taxpayer dollars on an appraisal or not. We will oppose any attempt to take the drinking water system. The people of Visalia deserve to continue receiving the quality, service, and value that we have provided since 1927, not the higher taxes and water rates that would almost certainly result from a hostile takeover," she said.
According to Dean, there are a number of reasons the public should be concerned about the City's course of action, even beyond higher taxes and higher water rates.
"We are in the middle of the worst drought in California history. Is this really the best use of the City's time and resources? In other communities throughout the state, Cal Water is working closely and cooperatively with the cities we serve to ensure a reliable water supply now and into the future. That's what should be happening here," Dean said.
Cal Water serves about 132,200 people through 42,400 service connections in Visalia. The company has provided water service in the area since 1927. Additional information may be obtained online at www.calwater.com.
216 North Valley Oaks Drive, Visalia, CA 93292
Contact Information:
Contact:
Shannon Dean
(310) 863-8045