Ordinance 2000-1335 - Laserfiche WebLink

Home Browse Search

ORDINANCE NO. 1335 SERIES 2000 AN EMERGENCY ORDTNANCE AUTHORIZING THE PAYMENT OF CTrY MONEYS FOR THE AC(~UZSZI'~ON OF VACANT REAL ESTATE~ WATER RIGHTS AND A CONSERVATION EASEMENT~ FOR OPEN SPACE~ CONSERVA'~ON, AND RIGHT-OF-WAY PURPOSES WHEREAS, the City of Louisville and County of Boulder intend to enter into a Purchase Agreement with Bowes Property Limited Partnership for City and County acquisition, for open space, conservation, and right-of-way purposes, of title to and a conservation easement in certain parcels of real estate totaling approximately 80 acres and located east of and adjacent to the intersection of Dillon Road and South 88th Street, together with certain'water rights (the "Property"); and WHEREAS, the Property is more particularly described in Exhibit A attached hereto and incorporated herein by reference; and WHEREAS, under the Purchase Agreement, the City and County intend to purchase, as tenants in common, fee title to approximately 66 acres of the Property for open space purposes and a conservation easement over approximately five acres of the Property, and the City intends to purchase approximately nine acres of the Property for right-of-way purposes; and WHEREAS, the City and County shall pay the owner of the Property a total purchase price of two million and twenty-five thousand dollars ($2,025,000.00), for the Property, with the City to pay one million and eighty thousand dollars ($1,080,00.00) of the total purchase price, such total purchase price and City payment being subject to adjustment based on the actual surveyed acreage of the Property and of the portions of the Property to be purchased by the City and County for open space and by the City only for right-of-way purposes; and WHEREAS, the City Council by this ordinance desires to identify the sources of funding for such purchase and otherwise comply with Section 31-25-202, Colorado Revised Statutes. NOW, THEREFORE~ BE I'T ORDA'rNED BY THE cI'rY COUNC'rL OF THE CITY OF LOUTSVILLE, COLORADO: Section 1. Unless other funds become available for use by the City as determined by the City Council, moneys from the following funds shall be used to pay the City's one million and eighty thousand dollar ($1,080,00.00) share of the purchase price of the Property: Conservation Trust-Land Acquisition Fund: Capital Projects (Right-of-Way) $837,000 243,000 Total $1,080,000 Section 2. City payment for the Property shall be made in cash, certified funds or City warrant, subject to the Purchase Agreement and to any necessary budgetary transfers or supplementary budgets and appropriations in accordance with State law. 1