: News Article

Date Set for Assets Deal

13/03/2002

A date has been set for the transfer of bulk water assets from Townsville and Thuringowa City Councils to NQ Water.

This follows a meeting in Brisbane today between NQ Water and officials from Treasury, the Department of Local Government and Queensland Treasury Corporation, to wrap up details of the restructure.

The officials expressed no objection to the restructure proposal and dismissed an earlier approach made by Thuringowa City Council to refer the matter to Crown Law for advice, said NQ Water Chairman Ian Hamilton.

"The first of July is set as the best date for the transfer of the assets from the councils and the money to the councils," said Mr Hamilton.

"On the strength of a push by a minority of councillors, Thuringowa appealed to the department saying they wanted the matter referred to Crown Law. That’s now shown to be smoke screen to confuse the issue.

"Had it been outside our jurisdiction or grossly irresponsible the department would have objected to the restructure.

"Now the air has cleared, council will be able to consider the issue on its merits at its special meeting next week. We have given councillors all the expert advise for them to do that."

This was the last procedural step in the restructure worth $71 million, which would see NQ Water take over all the twin cities’ bulk water assets up to and including the reservoirs.

The package includes a transfer of superfluous assets. Townsville will get Aplin and Gleeson Weirs plus compensation for their maintenance and Thuringowa will get 60 hectares of land along Ross River and at the base of the dam for its Riverway project.

There are also tied grants for water conservation and recycling strategies, which when implemented will stave off the need for building more expensive infrastructure, said Mr Hamilton.

© 2004 NQ Water