By MyFM's Rick Michaels - Milford Selectmen say following a very thorough due-diligence review of all matters surrounding the Town’s purchase of the Milford Water Company, the Board has concluded the purchase and ultimate control of the town's water supply is in the best interest of the town. A public informational meeting was held last night at Milford High School when additional materials were released, summarizing the results of the financial and legal due diligence to date on the 63-million dollars the town would need to spend to buy the Milford Water Company. Some residents expressed their concerns about the quality of the water and the cost to ratepayers with Milford Selectmen saying a rate increase will be needed if the town were to purchase the water company and it may be higher than first expected. The Milford Water Company is asking the state for an almost 30-percent rate hike. A request that’s on hold until the town decides to move forward with the purchase. That vote comes during a Town Meeting which is scheduled for two-weeks from tonight, September 26th.