Mayor: Equity firm reneged on promise
“Missoula has amended an eminent domain filing as it seeks to own the water system that serves city residents.
A complaint filed Monday says Carlyle Infrastructure asked for the city’s support for its 2011 purchase of Mountain Water Co. in order to gain the Public Service Commission’s approval. In exchange, Carlyle officials said they would sell the company to the city in February 2013, according to details of the complaint published by the Missoulian (http://bit.ly/1fMoN5B).
According to the complaint, Carlyle director Robert Dove verbally agreed to sell the water system to the city after two years.
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“If true, not only has Carlyle failed to live up to its word to the people of Missoula, it also has executed a classic ‘bait and switch’ technique by making false promises in order to obtain the city’s public approval of its 2011 acquisition of Mountain Water Company without intending to perform on such promises,” the complaint said.
Associated Press. THe Washington TImes 6 May 2014.