Loan paves way for $10M acquisition of Diversified Water Utilities Inc.
The town is to take possession of Diversified on Oct. 2 through the loan from the Water Infrastructure Finance Authority of Arizona. Diversified’s customers will receive their first Queen Creek water bill by the week of Oct. 26.
The Town Council recently approved a resolution regarding the loan in a unanimous vote. It was the last legislative step the town needed to finalize the acquisition of Diversified Water, town Finance Director Scott McCarty said at the Sept. 2 Council meeting.
