Ordinance 2000-1327 - Laserfiche WebLink

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ORDINANCE NO. 1327 SERIES 2000 AN ORDINANCE AUTHORIZING THE SALE AND CONVEYANCE OF CERTAIN WATER RIGHTS OWNED BY THE CITY OF LOUISVILLE TO GRACE MAR WATER, INC. WHEREAS, the City of Louisville is the owner of certain water rights consisting of thirty (30) shares of the South Boulder Canon Ditch, 2.5 shares of the Leyner-Cottonwood Ditch, and ten (10) shares of the Erie and Coal Creek Ditch, which water rights are more particularly described in Exhibit A attached hereto and incorporated herein by reference (the "Water Rights"); and WHEREAS, an agreement has been proposed between the City of Louisville and the Grace Mar Water, Inc. under which Grace Mar Water, Inc. would purchase the Water Rights from the City for a purchase price of $160,000 to be paid in cash; and WHEREAS, the City Council has determined that the Water Rights are not and will not be used or held for any park or governmental purposes; and WHEREAS, the City Council has determined it is in the best interest of the City and its citizens to sell and convey the Water Rights to Grace Mar Water, Inc. upon the terms and conditions set forth herein. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. The City Council hereby approves the sale and conveyance from the City of Louisville to Grace Mar Water, Inc. of the Water Rights described in Exhibit A attached hereto. Section 2. The sale and conveyance of the Water Rights shall be upon the terms and conditions set forth in that certain Purchase Agreement between the City and Grace Mar Water, Inc., which Agreement was approved by City Council Resolution No. 16, Series 2000, and which terms and conditions are incorporated herein by reference as though set forth in full. Section 3. If any portion of this ordinance is held to be invalid for any reason, such decision shall not affect the validity of the remaining portions of this ordinance. The City Council hereby declares that it would have passed this ordinance and each part hereof irrespective of the fact that any one part be declared invalid. INTRODUCED, READ, PASSED ON FIRST READING, AND ORDERED PUBLISHED this 18th day of January, 2000.