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The system was acquired by FGUA in 2003 and is the second largest of the 11 systems currently owned and operated by FGUA.
IMPROVED FINANCIALS: Financial results improved somewhat in fiscal 2016 by the enactment of FGUA's policy of billing inactive users a base fee.
The system, acquired by FGUA in 2013, is made of 32 smaller utilities in 10 counties throughout central Florida serving a population of approximately 21,000, which consists of over 7,800 water connections and about 2,000 sewer connections.
Audited 2016 financial results are up due to implementation of FGUA's policy of billing inactive users within the system.
The system's high debt levels have seen continuous improvement since FGUA acquired the utility in 2013.
FGUA was formed in 1999 by an inter-local agreement to purchase a number of water systems in Florida from a private utility company.
The FGUA has not signed an exclusive agreement to buy Aqua Utilities Florida Inc and has been given until 30 November 2012 to accept or reject Aqua Americaa[euro](tm)s offer.
The FGUA was the first choice for buyer for a number of reasons, Aqua America said.
In addition, having the FGUA as buyer should make it possible to finalise the deal quickly given the unique regulatory structure of the organisation.
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