OTHERAPPROVED

City of Dodge City Agenda 2026-06-15

City Purchases Water Rights From JR Farms

$10,000,000.00 (3,732 acre-feet at $2,679.53 per acre-foot; $2.5 million at closing plus $7.5 million financed at 3.5% over 20 years)Dodge city Housing AuthorityJR FARMSJune 15, 2026

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Description

The City of Dodge City is approving a $10 million Water Rights Sale Contract with JR Farms to purchase 3,732 acre-feet of water for municipal use, funded by $2.5 million at closing and a $7.5 million, 20‑year, 3.5% installment note. The agreement includes easements for water infrastructure and a leaseback so JR Farms can continue irrigating until the City develops the water rights.

Contract Details

Contract Amount

$10,000,000.00 (3,732 acre-feet at $2,679.53 per acre-foot; $2.5 million at closing plus $7.5 million financed at 3.5% over 20 years)

Vendor

JR FARMS

Agency

Dodge city Housing Authority, KS

Contract Type

OTHER

Document Date

June 15, 2026

Contract Term

Closing July 1, 2026; $2.5 million at closing; $7.5 million paid in equal annual installments over 20 years beginning January 1, 2027

Renewal Date

2047-01-01

Renewal Info

Purchase is a one‑time acquisition with no renewal; financed portion structured as a 20‑year secured installment obligation with prepayment allowed and annual appropriation provisions.