Ordinance 2007-1520 - Laserfiche WebLink

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($1,017,500.00), for the Property; which Property is further described on Exhibit A attached hereto and in the Purchase Contract therefor. The City Conservation Trust Fund - Land Acquisition shall be reimbursed for the costs of any portion of the Property subsequently identified and used for right-of-way purposes, and shall be reimbursed for the costs of Residential Lot at the time of sale and disposal of such Lot. Section 2. City payment for the Property shall be made in cash, certified funds or City warrant, subject to the Purchase Contract and to any necessary budgetary transfers or supplementary budgets and appropriations in accordance with State law. Such City payment is subject to and conditioned upon satisfaction of all conditions in the Purchase Contract for the Property. Section 3. The City Council intends and states that the Residential Lot is being acquired as a general asset of the City and is not being purchased or acquired for any park, open space, governmental or municipal purposes, but rather for sale and disposal thereof after acquisition from the Damyanovich family. The Residential Lot consists of approximately 1.5 acres as generally depicted on Exhibit A and the exact boundaries and acreage thereof shall be as determined by City Council through the subdivision process for recognition of such Lot. The City Council intends and states that the proceeds from sale and disposal of said Residential Lot shall help the City defray the costs of acquisition of the balance of the Property. Further, areas to be used for right-of-way purposes, as identified by City Council, shall not be deemed open space and may be designated, conveyed and used for right-of-way, provided the City Conservation Trust Fund - Land Acquisition is reimbursed for the costs thereof. Section 4. The City Council hereby approves of the sale and conveyance from the City to the County of Boulder of conservation easements in gross over portions of the Property, for a purchase price of $200,000. Such sale and conveyance is authorized upon City acquisition of the Property and upon the terms and conditions of the Proposed Purchase Agreement for Purchase of Conservation Easements approved by Resolution No. 29, Series 2007, which terms and conditions are incorporated herein by reference. Section 5. Nothing in this Ordinance is intended to nor should be construed to create any multiple-fiscal year direct or indirect City debt or fiscal obligation whatsoever. Section 6. If any portion of this ordinance is held to be invalid for any reason, such decision shall not affect the validity of the remaining portions of this ordinance. The City Council hereby declares that it would have passed this ordinance and each part hereof irrespective of the fact that anyone part be declared invalid. Section 7. All other ordinances or portions thereof inconsistent or conflicting with this ordinance or any portion hereof are hereby repealed to the extent of such inconsistency or conflict. INTRODUCED, READ, PASSED ON FIRST READING, AND ORDERED PUBLISHED this day of , 2007. 2