The Canadian River Municipal Water Authority and Mesa Water representatives closed on the $103 million purchase of Mesa Water holdings in the Texas Panhandle in Amarillo.
CRMWA supplies raw water to 11 member cities in the Texas Panhandle and the South Plains via a 358 mile aqueduct system.
Mayor Tom Martin said this is a huge deal for Lubbock and West Texas water.
"This is a major part of our 100 years plus water plan," Martin said. "All of the water that we use in Lubbock we import from Bailey County 60 miles northwest of the city. We used to import from Lake Meredith 168 miles north, but it is dried up. The water that we are purchasing adds 50-100 years to our long term supply."
The signing came after last summer's preliminary agreement between CRMWA and Mesa Water which outlined the purchase of 211,217 surface acres of water rights owned by T. Boone Pickens and Mesa Water.
