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RESOLUTION NO. 40 SERIES 2023 A RESOLUTION APPROVING AN AGREEMENT FOR THE PURCHASE AND SALE OF CBT UNITS OF NORTHERN COLORADO WATER CONSERVANCY DISTRICT BETWEEN THE CITY OF LOUISVILLE AND ELDON AND MARTHA BOWER FAMILY 1992 REVOCABLE TRUST, AND AUTHORIZING TEMPORARY USE PERMITS IN CONNECTION THEREWITH WHEREAS, the City of Louisville's ("City") Raw Water Master Plan update identifies the City's need for additional water supplies to help satisfy the City's projected build -out water demand; and WHEREAS, Colorado -Big Thompson units ("CBT Units") are highly desirable for their easy integration with the City water supply system; and WHEREAS, there has been proposed an agreement between the City and Eldon and Martha Bower Family 1992 Revocable Trust ("Seller") for the City's acquisition of 40 CBT Units of the Northern Colorado Water Conservancy District (°NCWCD"); and WHEREAS, the City desires to acquire such CBT Units and the Seller desires to sell such Units upon the terms and conditions of a mutually acceptable purchase and sale agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: 1. The proposed Agreement for Purchase and Sale of CBT Units of Northern Colorado Water Conservancy District ("Agreement") between the City of Louisville and Eldon and Martha Bower Family 1992 Revocable Trust, forthe City's acquisition of 40 CBT Units, is hereby approved in essentially the same form as the copy of such Agreement accompanying this Resolution. 2. The Mayor and City Clerk are authorized to execute such Agreement, and the Mayor is further authorized to negotiate and approve such revisions to said Agreement as the Mayor determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the Agreement are not altered. 3. The Mayor, City Manager, Public Works Director, Deputy Director of Utilities, and other appropriate City Staff are further authorized to do all things necessary on behalf of the City to perform the obligations of the City under such Agreement, and to execute and deliver any and all documents necessary to effect the purchase of water rights under the terms and conditions of said Agreement. Resolution No. 40, Series 2023 Page 1 of 2