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eminent domain/water

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we are a small town in California, 174 homes. The current water system is privately owned.The owner has been out of state and federal compliance for clean drinking water since 1993. DHS is looking into taking the property under receivership. The community has formed a (county) community water board. We are looking at taking over the system by purchase, receivership or eminent domain. What are the advantages or disadvantages of these three options. We are working on a very small budget of community donations.

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