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Davidson stated that he should be reminded that this is not what he originally offered. If <br />Council is going to reconsider, then they should also reconsider the private individual <br />who was willing to pay more for the land with no water rights. He stated that the City <br />would certainly cooperate and leave the water there except that in a dry year it would be <br />foolish to irrigate crops when there is a water shortage in town. He suggested that the <br />City could make an agreement to the extent that when there is excess water available, it <br />would be available to the land. He stated that the private landowner agreed to pay the <br />City $750,000, and Commissioner Stewart agreed that the County would split that cost <br />with the City. That did not include the cost of water. <br /> <br />Mayer asked if Davidson informed Stewart that the private party would not get the water <br />rights associated with the land. <br /> <br />Davidson replied that typically they don't, so it should be no surprise. He stated that he <br />would agree that if there were excess water available, it would be available for the land. <br /> <br />Mayer stated that one issue, which should be evaluated, is the value of the water rights. <br />Davidson suggested $50-60,000. <br /> <br />Levihn agreed, as the rate is typically $10,000 a share. <br /> <br />Davidson replied that Marshall is $12-14,000 per share. <br /> <br />Mayer stated that the 1.7 shares of Farmers Reservation and Irrigation Company would <br />amount to approximately $20,000 alone. <br /> <br />Davidson stated that the City should offer, to the extent that there is excess water, that <br />there would be water available, but obviously, it would not be available in a dry year. <br /> <br />Levihn agreed. <br /> <br />Sisk requested that the records show that he has excused himself from these discussions <br />and will continue to do so. <br /> <br />Davidson directed that the records show that. <br /> <br />Simmons reviewed the agenda for the upcoming work session. <br /> <br /> COUNCIL COMMENTS AND COMMITTEE REPORTS <br /> <br />Davidson reported that he and Sam Light, City Attorney, met with the Boulder County <br />District Attorney. The District Attorney agreed to investigate the land purchase by <br />Councilman Lathrop to see if there was any violation of State law and to lead the effort, <br />although the sheriff will conduct the investigation. Davidson stated that he stressed that it <br />is the City's view that this investigation is a fair process, both to the citizens of Louisville <br /> <br />17 <br /> <br /> <br />