Water company buyout decision moved back another month

By Beau Ebenezer

October 22, 2013 Updated Oct 23, 2013 at 10:36 AM CDT

PEORIA, Ill. -- The Peoria City Council needs more time to decide whether or not to buy out Illinois American Water Company.

Due to a franchise agreement, the City of Peoria has the option to buy the water system every five years.

Council members originally had to decide by early November on the potential buyout.

Now, At-Large Councilman Eric Turner said the council will look at taking another month to finish evaluating financial information on what a buyout could mean for the city.

The council is likely to vote on an extension October 29.