Laserfiche WebLink
Williamson explained that this ordinance approves <br />a contract for the purchase of water rights and <br />authorizes the issuance of a special obligation <br />water revenue note for payment. 1.0 share of <br />capital stock in the Howard Ditch Company is being <br />purchased from Joseph and Mary Beth Kent for <br />$61,375 with an interest bearing note which <br />requires contract approval in the form of an <br />ordinance. <br />Mayor Fauson moved and Anderson seconded to place <br />Ordinance #989 out for publication and set a <br />public hearing for March 20, 1989. Motion passed <br />7-0. <br />RESOLUTION #9, SERIES 1989 - AMENDMENT TO RESOLUTION #52, SERIES 1988 - <br />WATER RIGHTS DEDICATION Read by title only, Resolution #9, Series 1989, "A <br />Resolution amending Resolution #52, Series 1988, <br />with respect to the dedication of water rights to <br />the City in connection with annexations. <br />Williamson stated that this proposed Resolution <br />would amend the cash in lieu payment required <br />under the City Code by revising Resolution #52 <br />and will keep the City's policy in line with the <br />current market. This policy calls for review from <br />time to time to reflect the current market price <br />of water rights which the City is acquiring. The <br />City has not changed the cash in lieu of figure in <br />fourteen months. Staff is recommending at this <br />time that a 6~ upward adjust be made in that fee <br />and therefore recommend adoption of this <br />Resolution. <br />Mayor Fauson moved and Carnival seconded to adopt <br />Resolution #9, 1989. By Roll Call Vote, <br />Resolution #9, Series 1989 was adopted 7-0. <br />EXECUTIVE SESSION <br />OTHER: <br />Mayor Fauson called a recess and asked that <br />Council go into Executive Session. <br />Following the Executive Session, Mayor Fauson <br />called the meeting back to order and introduced <br />the next Agenda Item. <br />ANNEXATION PETITION REFERRAL <br />HILLANDALE Stahl explained that the City Clerk received a <br />petition for annexation from Frontier Sand and <br />Gravel Inc. for approximately 1100 acres located <br />south of US 36 and west toward the Marshall Lake <br />area. <br />The applicant is under contract to purchase most <br />of the property. Frontier has requested PCZD- <br />5 <br />