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<br />NOTICEOFPUBLIC HEARING
<br />ORDINANCE No. ISM, SERIES 2021
<br />NOTICE IS HEREBY GIVEN that at a regular meeting of the City
<br />Council of the City of Louisville,_ Colorado. to be held on March 2.
<br />2021 at the hour of 6:00p.m, in an electronic meeting the City
<br />Council proposedwill hold a Public Hear on the final passa a and adoption
<br />ITY-
<br />OWNEDD WRIGHTS IN-TNE NEW COAAPMOVING L E RIDGE DITCHROF COMPANY
<br />AND APPROVING AN AGREEMENT IN CONNECTION THEREWITH .
<br />Published In the Daily Camera on February 21. 2021 wdh full ordi-
<br />nance.
<br />ORDINANCE NO, 1$04
<br />SERIES 2D21
<br />AN ORDINANCE APPROVING THE TRANSFER OF CITY -OWNED WA-
<br />TER RIGHTS IN THE NEW COAL RIDGE DITCH COMPANY AND AP-
<br />PROVING AN AGREEMENT IN CONNECTION THEREW TTN
<br />WHEREAS. the City of Louisville (`City") operates and owns a mu-
<br />nicipal water supply and sewer system; and
<br />WHEREAS a City's water supply Includes a proportionate share of
<br />water entitlements of the New Coal Ridge Ditch Company (the
<br />"Ditch Company"), a mutual ditch and reservoir company organized
<br />pursuant to § 7-42.-101. et seq.. C.R.S.; and
<br />WHEREAS. the Ditch Company's system includes direct Bow water
<br />rights, shares in various ditch companies on South Boulder Creek
<br />and storage rights. inBaseline Reservoir and
<br />WHEREAS. the Ditch Company owns shares in the Consolidated
<br />Lower Boulder Reservoir and. Ditch Company ("Consolidated"),
<br />which also provides for a proportional Interest In theaiotment con-
<br />tract between Consolidated and the Northern Colorado Water Con.
<br />servancy
<br />District ("NCWCD") for use of Co(oradp-Bag Thompson
<br />land within NCWCD and served by t as supplemental
<br />Company;nd pp
<br />ty of
<br />WHEREAS, the entitlements to ail of which are divided among the
<br />Ditch Company's shareholders; and
<br />WHEREAS, the City owns 227 shares (10.73%) of the 2,116 shares of
<br />capital stock Issued and outstanding in. the Ditch Company (herein-
<br />after referred to as the "Water Stock"); and
<br />WHEREAS. the Water Stock represents the City's 10.73% entitle-
<br />ment to the Ditch Company's direct flow water priorities (the "Din
<br />eot Flow Water"), the City's 10,7396 entitlement to the Storage
<br />rights attributable to the Ditch Companys interest In the Baseline
<br />Reservoir system (the "Storage Water Rights"), t0 ether. with a pro•
<br />aprorrtional share of irrigation water associated with the CBT units;
<br />WHEREAS, by decree oatered In Case No. 80CW451, Water Division.
<br />No,1 (the "Water Court"), the City changed the type, place, and
<br />manner of use of the water rights represented by the Water Stock
<br />for the Direct Flow Water and Storage Water Rights from Irrigation
<br />to all municipalpurposes and Irrigation (the -Decree"); and
<br />WHEREAS, pursuant to the terms and canditions set forth in the De-
<br />cree, the City's proportionate share of the changed Direct Flow We -
<br />ter authorizes it to divert up to 319 acre-feet per yearof fully con•
<br />sumable water available to the. Ditch Company, and a yield from the
<br />Storage Water Rights equivalent to 16.12 shares in the Baseline
<br />Reservoir system; and
<br />WHEREAS, CK H2O Ventures ("CK Ventures") desires to acquire the
<br />right to use the proportional Share Of Direct Flow Water and supple-
<br />mental irrigation supply from the CBT units attributable to the Wre
<br />ter Stock; and
<br />WHEREAS. while the Direct Flow water associated with the Water
<br />Stock represents up to 319 acre-feet per year of fully consumable
<br />water, the City's operational constraints greatly limit the annual
<br />water supply available to the City from the Direct Flow Water asso-
<br />ciated with the Water Stock; and
<br />WHEREAS, restrictions on the CDT unitsfor use only as su pplemen-
<br />ta irrigation supply of land within NCWCD and served by she.Wtch
<br />Company preclude the City-fnpm incorporating the proportionate
<br />CInterest in the CET units associated with the Water Stock into the
<br />itys water supply system; and
<br />WHEREAS, additionally. as consideration for the water rights CK
<br />Ventures seeks to acquire, CK Ventures has offered the City a pipe-
<br />line easement that may allow for the City's operation of other water
<br />rights of higher value; and
<br />WHEREAS. as such, the City is willing t0 sell the proportional
<br />share of Direct Flow Water and supplemental Irrigation Supply from
<br />the CBT units attributable to the Water Stock, but only If the City
<br />retains Ownership in the proportional share of Storage Water Rights
<br />associated with the Water Stoat, and only if the City receives ease-
<br />ments facilities to t�ransporrttcerng tain City
<br />rrrr rightstothe Bull CCU
<br />nal and from the Bu11 Canal t0 alg Dry Creek ("Easement Rights"):
<br />and
<br />WHEREAS there has been proposed an Agreement for Purchase
<br />and Sale of Water Stock ("Agreement") setting forth the terms and
<br />conditions for creating Joint ownership Interests in the Water Stdclt,
<br />for CK Ventures to own the proportional share of Direct flow Water
<br />and supplemental irrigation supply from the CST units attributable
<br />to the Water Stock. and for the City to own the proportional share
<br />of the Storage Water Rights- associated with the Water Stock
<br />(-Transfer"), and setting forth the terms and conditions of the
<br />Easement Rights; and
<br />WHEREAS, in Accordance with Section 4.8(c) of the Charter of the
<br />City of Louisville, the City Council desires t0 approve the Transfer,
<br />wblect to the terms and conditions of the Agreement; and
<br />WHEREAS, the City Council further desires to approve the Agree -
<br />men( In connection with the Transfer..
<br />NOW, THEREFORE, tit rr ORDAINED BY THE CiTY COUNCIL Of
<br />THE CITY OF LOIfISVILLE, COLORADO:
<br />Section I. The above recitals are hereby incorporated into and'.
<br />made a part of this Ordinance.
<br />Section 2. The Transfer is hereby approved in accordance with
<br />Section 4.8(c) of the Charter of the City of Louisville. ("Charter").
<br />Section 3. The proposed Agreement for Purchase and Sale of
<br />Water Steck ("Agreement"), by and between the City and CK H2O
<br />Venturreess.. Is hereby approved in essentially the same form as the
<br />copy of such Agreement accompanying this Ordinance.
<br />Section 4. The Mayor and Clio Clerk are authorized to execute
<br />such Agreement, and the Mayor is further authorized to negotiate
<br />and approve such revlabnS t0 said Agreement as the Mayor deter-
<br />mines snssare necessary or desirable for the protection of the City, so
<br />leng s the essential terms and conditions of the Agreement are not
<br />alteSection
<br />o SpyooftliCteartutroed
<br />0irecendD ut0lrectr Clerk,
<br />sarfuher d to
<br />do all things necessary on behalf of the City to perform the obliga-
<br />tions of the City under such Agreement, and to execute and deliver
<br />any and all closing and other documentsnecessary to effect the
<br />Transfer under the terms and conditions of said Agreement.
<br />Section 6. The Mayor. City Clerk. City Manager. nubile Works
<br />Director. end Deputy ADirectorrof tililities are further aut�lf nfdNo
<br />1.64•41,
<br />Prairie Mountain Media, LLC
<br />PUBLISHER'S AFFIDAVIT
<br />County of Boulder
<br />State of Colorado
<br />The undersigned Melissa Nalera , being first duly
<br />sworn under oath, states and affirms as follows:
<br />1. He/she is the legal Advertising Reviewer of
<br />Prairie Mountain Media LLC, publisher of the
<br />Daily Camera.
<br />2. The Daily Camera is a newspaper
<br />of general circulation that has been published
<br />continuously and without interruption for at least
<br />fifty-two weeks In Boulder County and
<br />meets the legal requisites for a legal newspaper
<br />under Colo. Rev. Stat. 24-70-103.
<br />3. The notice that is attached hereto is a true copy,
<br />published in the Daily Camera
<br />in Boulder County on the following date(s):
<br />Feb 21. 2021
<br />Subscribe and sw • n to me before me this
<br />2 ay of '.� & .Ij,
<br />Notary Public
<br />(SEAL)
<br />SHAYLA NAJERA
<br />NOTARY PUBLIC
<br />STATE OF COLORADO
<br />NOTARY ID 20174031965
<br />MY COMMISSION EXPIRES JULY 31, 2021
<br />Account:
<br />Ad Number:
<br />Fee:
<br />1048836
<br />1778040
<br />$273.68
<br />1.9
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