DENVER -- The city council of Santa Fe, N.M., last week unanimously passed a preliminary ordinance authorizing an $87 million bond issue that would allow the city to buy its water system from Public Service Co. of New Mexico.

Owning its own water system would give the city greater control over its growth, Santa Fe officials said. The purchase, already agreed to by both sides at a price of about $48 million, would end a century-long quest by the city to control its water supply.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.