CLWSCCanyon Lake Water Service Company (Texas)
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CLWSC is a member-owned nonprofit water utility headquartered in Canyon Lake, Texas.
2 million in cash payable to CLWSC at closing; SJWTX Water's assumption, retirement or recapitalization of all of CLWSC's outstanding debt and bond obligations (approximately $20 million); and SJWTX Water's payment of certain CLWSC transaction expenses.
The acquisition will be subject to the satisfaction of various conditions set forth in the agreement, including the approval of the members of CLWSC and the Texas Commission on Environmental Quality and other approvals required under the parties' governing documents and applicable laws and regulations.