The Alpha Creek Waterworks is a system which provides domestic water service to almost 400 units in the Bayshores, Twin Lakes, Tamarisk and Alpha Creek Village areas.
The municipality has been negotiating the $390,000 purchase over the past two years and the deal is almost complete, pending the approval of the water comptroller.
The RMOW will pay for the water system over the next three years with revenue from parcel tax and user fees from the new customers.
Currently residents on the Alpha Creek system pay $192 for utility charges. That fee will be bumped up to $257 upon purchase in order to bring users on par with the established municipal rate.
"I think its a very important move for the municipality from a public health point of view," said Councillor Marianne Wade at Mondays council meeting.
Upon the sale the municipality intends to shut down the existing Alpha Creek water source and provide the new customers with water from existing municipal sources.
In the past the municipality has acquired numerous private waterworks companies and amalgamated them into the municipal system. These include the Nesters Waterworks, Alta Vista Waterworks, Alpine and Emerald Waterworks and the Gondola Waterworks.