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Peoria City Council says no to water company buyout

After weighing the difficult decision for months, Peoria City Council members decided not to pursue a buyout of the water company.

There was hours of discussion at Tuesday night’s meeting. Three council members voted yes and eight voted no to pursuing an appraisal of the water system.

Citizens also made their voices heard Tuesday. Those for the buyout made statements like, “Are we renters or owners?” and said “we can’t afford to not do something like this.”

Those against it said this buyout will not solve the immediate crisis and that it could take 25 years to see a profit. One individual said, “I don’t understand why you would buy a water company when you can’t be responsible.”

Some council members were for it, while others weren’t.

“If you aren’t going to support this and aren’t interested in talking about opportunities, what is your plan?” said Councilman Zach Oyler.

“At what point does the insanity stop? It’s funny, we had a Titanic exhibit at the museum. And you know what the difference between Peoria and the Titanic was? The Titanic at least had some life boats. We need to stop thinking like this,” said Councilman Sid Ruckriegel.

The CEO Council, the organization raising money to help the city evaluate the water company’s worth, pledged to give Peoria $700,000 dollars.

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