City Council

10.d. Approval of Fiscal Year 2024 Water Supply Strategy and Authorization to 51\nExecute all Requisite Documents\nStaff Recommendation:\n1. Approve the Fiscal Year 2024 water supply strategy outlined in this\nreport;\n2. Authorize the City Manager to execute a Temporary Assignment or\nLease of Water Right Form to assign 359.69 acre feet of Water\nProduction Rights from the City to the Covina Irrigating Company for\nFY 2024;\n3. Authorize the City to solicit and lease up to 450 shares of Covina\nIrrigating Company stock for Fiscal Year 2024, and execute a Lease\nAgreement and an Order for Delivery with interested shareholders;\nand\n4. Authorize the City to participate in the Fiscal Year 2024 Covina\nIrrigating Company lease pool to the level needed to enable the City\nto achieve its water supply target.