| 12 May 2010
Southern Rural Water is auctioning permanent water shares in the Macalister Irrigation District on 4 June 2010 at the Maffra Recreational Reserve. All those wishing to bid at the auction must register with Southern Rural Water by 28 May 2010.
These water shares have become available due to water savings gained through an automation project on the Eastern and Southern Channels, which was undertaken by Southern Rural Water.
A total of 750 megalitres (ML) of high reliability and 375ML of low reliability water shares will go under the hammer, and be sold to the highest bidder.
The shares will be sold in 50ML lots: however the successful bidder is not required to take the entire 50ML. They must immediately advise the auctioneer how much of the 50ML lot they wish to purchase at the nominated price.
For example, the successful bidder may only want 20ML of water. The remaining 30ML from that lot would then be re-allocated to make up additional 50ML lots. The auction will continue until all water is sold.
Successful bidders will be required to sign a contract of sale and pay a 10% deposit at the auction. They must pay the balance by 24 June 2010/11 season opening allocation.
All water shares purchased at this auction will be assigned to the Thomson / Macalister system and will be subject to any seasonal allocations, supply and/or delivery conditions that may be applied across the Macalister Irrigation Area. Normal trading rules will apply to the shares.
Registration forms are available from Southern Rural Water at 88 Johnson St, Maffra or can be downloaded from www.srw.com.au. Registration is free of charge. Late registrations will not be accepted.
This is expected to be the first in a series of four auctions to be held annually.
For more information visit www.srw.com.cu or call Southern Rural Water on 1300 139 510.
MEDIA ENQUIRIES: Julie Logan on 0403 389 219 or 03 5139 3164.
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