Cane Creek Reservoir is 16 feet below full. Water levels at University Lake are 6 feet short of their high mark.
The Orange Water and Sewer Authority has called the current drought "the worst on record."
"It's the first time ever that (the reservoirs) did not refill over the winter," said Ed Kerwin, OWASA's executive director, during a report to the Chapel Hill Town Council. Kerwin said the restrictions could go into effect within days.
Members Pat Evans and Bill Strom responded to Kerwin's report by suggesting that emergency restrictions be implemented immediately.
"It seems prudent to keep as much water (as possible) in the reservoirs at this point," Strom said.
Though OWASA has no set group of emergency measures, it has several options at its disposal, including banning all outdoor water use. It could also discontinue or reduce service to some areas to preserve water for health and safety facilities, like hospitals and fire houses.
Last week, OWASA asked Chapel Hill, Carrboro and Orange County to put Stage 2 water restrictions -- a stage below the emergency measures -- into effect. These measures limit outdoor watering to Mondays for odd-numbered houses and Thursdays for even-numbered houses. The restrictions also effectively shut down commercial car washes and pressure cleaners.
In July, the area's water demand dropped to 11 million gallons per day from 13 million gallons per day in June. But last week's levels averaged close to the June levels.
At current usage, 109 days of water remain in the two reservoirs, according to OWASA's Web site. Traditionally, autumn is the area's driest season, and Kerwin said the utility will prepare for the worst -- bone-dry reservoirs later this fall.