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Question: What is the history of Aqua Virginia and the City negotiations?
Response: The Indian River Water Company was formed in 1958 to provide water to what was, at that time, a relatively remote area in Norfolk County. The City has considered acquiring this system multiple times since Chesapeake became a City in 1963, but that acquisition has never been realized. In May 2000, Aqua Source Utility, Inc., acquired that portion of the Indian River Water System in Chesapeake, and the City of Virginia Beach purchased the portion of the Indian River Water System that was located in Virginia Beach. Aqua Source Utility, Inc.’s assets were thereafter acquired by Aqua America, Inc., and Aqua Virginia is a wholly owned subsidiary of Aqua America.