The contract provides that Eagle
Water shall offer a reasonable preferred
opportunity to purchase water to
municipalities, public water utilities and
public water districts, and commercial and
industrial entities in Eastern North
Carolina within the 15 counties of the
proposed CCPCUA before offering water
to parties outside of the CCPCUA; provided
Eagle Water may discuss the possibility of
offering water with such parties outside the
CCPCUA while it is offering such opportunity
to parties within the CCPCUA.
If sufficient contracts for water cannot be
implemented in a reasonable time period with
parties within the CCPCUA, then Eagle Water
will offer water to municipalities and
public water utilities customers outside the
CCPCUA. We are currently
actively pursuing potential customers
outside this area, including municipalities
in the Raleigh area. Eagle Water's
twenty-year agreement with PCS (which is
indefinitely renewable) contains provisions
to ensure that a high-quality, long-term and
uninterupted water supply will be maintained
for our customers. The projected life
of the mine is in excess of 70 years
|