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<br />9/7/82 <br /> <br />Page -6- <br /> <br />AQUARIUS - PROPOSED <br />CONTRACT <br /> <br />Members of Council had a copy of the pro- <br />posed contract. Attorney Rautenstraus <br />advised the changes were discussed at the <br />last meeting and were agreed to by Aquarius <br />people. The date for the closing was set <br />for September 30, 1982 and provided for <br />Title Insurance to be issued to the City <br />by September 23, 1982. There was a change <br />in the contract relative to the dedication <br />with respect to Highway 42, which provided <br />for Aquarius to pay their share for curb, <br />gutter, and sidewalk in the event that Hi- <br />way 42 was expanded. Changed the City of <br />Boulder to City of Louisville. Cleared up <br />some language 1Nith respect to the dedication <br />requirements wlder the subdivision code _ <br />for public land dedication - clarifying this <br />by stating this would be taken care of by <br />the annexation agreement. The situation <br />regarding their storage facilities was a <br />minor change stating that the City would not <br />oppose this facility. A section was added <br />allowing the City to make use of the existing <br />structure and that the City would be allowed <br />to use water from their well for that structure. <br />In term 31. a provision was added stating <br />they intend to use the property for cemetery <br />purposes and therefore felt the use of treated <br />water would be wasteful; therefore giving <br />them the option to tap on to the line. <br />The Aquarius people are also agreeing to transfer <br />rights to the well if they transfer their <br />water shares as set forth in the term; also <br />they are agreei.ng that they will not trans- <br />fer their water shares other than to the <br />City of Louisvi.lle. Provision was also <br />added to the contract for the City to make <br />improvements to the stone structure. <br /> <br />Councilman Cussen <br /> <br />Requested that the $5,000.00 typographical <br />error be changed on the first page. <br /> <br />Councilman Ferrera <br /> <br />Felt that the water shares should be deeded <br />to the City and leased back to the Aquarius <br />group for $1.00 or some figure agreed upon. <br />It was his opinion a precedence was being <br />set - cited a previous request by another <br />owner who wished to retain the water rights <br />but was denied. Ferrera further stated <br />