My state of Oregon is fully in drought. California is in extreme drought. Pretty much all the west has been in drought in a more general way for over a century.
Now in California if you have 100 year water rights then you might own water you can sell privately. Since the public sources are no longer there for many uses then buying on the spot market might make sense. The spot hit $2200 acre foot recently. You can play with this and see that this might be 250 1000 gallon units untreated. So i guess this Texas town is maybe paying $200 for an acre foot and this treated. These numbers are pretty much just in my head approximations and you can recalculate as needed.
California if this this goes on will be in a humanitarian crisis in 18 months. If so, you may be affected. You might want to support what this Texas city did after making the scat jokes. Or maybe shut down high water use export industries. When we ship a pound of beef out of country, how much water is effectively being shipped with it?