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RESOLUTION NO. 11 SERIES 2003 A RESOLUTION APPROVING AN AGREEMENT FOR PURCHASE OF COLORAO BIG THOMPSON UNITS BETWEEN THE CITY OF LOUISVILLE AND SUPERIOR METROPOLITAN DISTRICT NO. 1 WHEREAS, there has been proposed an agreement between the City of Louisville and the Superior Metropolitan District No. 1 for the City's acquisition of 156 Colorado-Big Thompson Units of the Northern Colorado Water Conservancy District ("NCWCD"), also known as the Colorado-Big Thompson Project or CBT; and WHEREAS, the City desires to acquire such Units and the District 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 Units of Northern Colorado Water Conservancy District between the City of Louisville and the Superior Metropolitan District No. 1, for the City's acquisition of 156 CBT Units, is hereby approved in essentially the same form as the copy of such Agreement accompanying this Resolution. 2. The Mayor is authorized to execute such Agreement for Purchase and Sale of CBT Units, except that the Mayor is hereby granted the authority 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 and 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 for Purchase and Sale of CBT Units, 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. SED AND ',., ..." . Nancy Varr~, City Clerk ADOPTED this 15th day of April, 2003. Tom Davidson, Mayor 4/I 1/03 1:10 PM[sjl]F:\Office~Louisville~Res\SuperiorCBTPurchaseAgmt