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<br />RESOLUTION NO. 75 <br />SERIES 1996 <br /> <br />A RESOLUTION APPROVING A PURCHASE CONTRACT <br />TO BUY AND SELL REAL ESTATE <br /> <br />WHEREAS, the City of Louisville desires to purchase for open <br />space purposes a parcel of land of approximately 20 acres, owned by <br />Duane Daughenbaugh and located adjacent to Heritage Park at 8791 <br />Cherry Street, Louisville, and in the Northeast quarter of Section <br />18, Township 1 South, Range 69 West of the 6th P.M, Boulder County, <br />Colorado (hereinafter "the Daughenbaugh Property") i and <br /> <br />WHEREAS, the owner of the Daughenbaugh Property has stated his <br />desire to sell such Property to the City upon the terms and <br />conditions described in a mutually-agreeable Purchase Contract. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF LOUISVILLE, COLORADO: <br /> <br />1. The proposed Purchase Contract to Buy and Sell Real <br />Estate between the City of Louisville and Duane Daughenbaugh <br />regarding the Daughenbaugh Property is hereby approved in <br />essentially the same form as the copy of such Purchase Contract <br />accompanying this Resolution. <br /> <br />2. The Mayor is authorized to execute the Purchase Contract, <br />except that the Mayor is hereby granted the authority to negotiate <br />and approve such revisions to said Purchase Contract as the Mayor <br />determines are necessary or desirable for the protection of the <br />City, so long as the essential terms and conditions of the Purchase <br />Contract are not altered. <br /> <br />3. It is the City's intent that the Daughenbaugh Property be <br />acquired pursuant to a mutually-agreeable Purchase Contract. In <br />the event the parties are unable to negotiate a mutually-agreeable <br />Purchase Contract, it is the City's intent to acquire such property <br />pursuant to its power of eminent domain and in compliance with laws <br />relating thereto. <br /> <br />1 <br />