Ordinance 1996-1243 - Laserfiche WebLink

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ORDINANCE NO. 1243 SERIES 1996 AN ORDINANCE AUTHORIZING THE PAYMENT OF CITY OF LOUISVILLE MONEY PURSUANT TO A PURCHASE CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN THE CITY OF LOUISVILLE AND DUANE DAUGHENBAUGH WHEREAS, the City of Louisville and Duane Daughenbaugh have entered into a Purchase Contract for the City'S acquisition for open space purposes of a parcel of land of approximately 20 acres, located adjacent to Heritage Park at 8791 Cherry Street, Louisville, Colorado, and more particularly described on Exhibit A, attached hereto and incorporated herein by this reference (hereinafter "the Daughenbaugh Property"); and WHEREAS, the Purchase Contract provides that the City shall pay the owner of the Daughenbaugh Property a total purchase price of Five Hundred and Seventy-Five Thousand Dollars ($575,000.00) for certain property described in the Purchase Contract; and WHEREAS, the City Council by this ordinance desires to identify the source of funding for such purchase and otherwise comply with Section 31-25-202, Colorado Revised Statutes. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Unless other funds become available for use by the City as determined by the City Council, moneys from the City Conservation Trust Fund shall be used to pay the purchase price of the Daughenbaugh Property, which Property is described on Exhibit A and in Purchase Contract therefor. The purchase price shall be paid in cash, certified funds or City warrant, as specified in the Purchase Contract. Section 2. The payment for the Daughenbaugh Property shall be subject to any necessary budgetary transfers or supplementary budgets and appropriations in accordance with state law. Section 3. 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. 1