THORNTON, CO, Aug. 4, 2005 (BUSINESS WIRE) -- Pure Cycle Corp. has entered into a water service agreement with Arapahoe County and the Rangeview Metropolitan District to provide water service to the new Arapahoe County Fairgrounds.
The agreement provides for the county to purchase 38.5 water taps from Pure Cycle for approximately $567,000, with water service to be provided pursuant to Pure Cycle's Rules and Regulations, and for the County to pay Pure Cycle approximately $1,245,000 to be used for the construction of various water system facilities which are required for Pure Cycle to extend water service to the fairgrounds. Construction of the water facilities necessary to provide water service is expected to begin immediately. Additionally, the Agreement provides for Pure Cycle to acquire approximately 360 acre-feet of groundwater from the County.
Mark W. Harding, Pure Cycle's President, commented: "We are excited to enter into this agreement with Arapahoe County and look forward to providing quality water service to the new fairgrounds. We are also pleased that this Agreement will add more water to our already significant Rangeview Water Supply."
Pure Cycle (www.purecyclewater.com) provides water and wastewater services to customers located in the Denver metropolitan area using its significant water assets. Pure Cycle's services include the design, construction, operation and maintenance of water and wastewater systems.
###
