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twitterNew lease approved by Truckee-Carson Irrigation District
Friday, May 21, 1999 | 5:12 a.m.
The 50-year lease is designed to end a costly fight over the electrical system that began after an earlier 30-year lease expired last July.
Under the new lease, the irrigation district will receive annual payments from Sierra Pacific of $520,000. The amount will increase by $80,000 every five years.
The new lease was approved by owners of water rights in Lyon and Churchill County. In Fernley, it was approved 78-2. In Fallon it was approved 774-50.
The controversy began last summer when the irrigation district decided against renewing the 30-year lease, opting instead to take over the system.
Both sides ended up filing lawsuits, but last fall, a Nevada Public Utilities Commission ruling allowed Sierra Pacific to continue serving the TCID leasehold area.
After that ruling, TCID was unable to sell bonds to pay off Sierra Pacific for the $21 million in improvements it had made over the years.
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