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RESOLUTION NO. 18, <br />SERIES 2003 <br /> <br />A RESOLUTION APPROVING AGREEMENTS FOR PURCHASE OF <br />COLORADO BIG THOMPSON UNITS BETWEEN THE CITY OF LOUISVILLE <br />AND VMJ PROPERTIES, LLC AND JAMES EDWARD ANDERSON AND <br />CAROL A. GANDY <br /> <br /> WHEREAS, there has been proposed agreements between the City of Louisville and VMP <br />Properties, LLC for 100 units, and James Edward Anderson and Carol A. Gandy for 60 units, <br />("Sellers") for the City's acquisition of 160 Colorado-Big Thompson Units of the Northern Colorado <br />Water Conservancy District ("NCWCD"), also known as the Colorado-Big Thompson Project or <br />CBT; and <br /> <br /> WHEREAS, the City desires to acquire such Units and the Sellers desires to sell such Units <br />upon the terms and conditions of mutually acceptable purchase and sale agreements. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF LOUISVILLE, COLORADO: <br /> <br /> 1. The proposed Agreements for Purchase and Sale of Units of Northern Colorado Water <br />Conservancy District between the City of Louisville and VMJ Properties, LLC, for 100 units, and <br />James Edward Anderson and Carol A. Gandy for 60 units, for the City's acquisition of 160 CBT Units <br />are hereby approved in essentially the same form as the copy of such Agreements accompanying this <br />Resolution. <br /> <br /> 2. The Mayor is authorized to execute such Agreements for Purchase and Sale of CBT <br />Units, except that the Mayor is hereby granted the authority to negotiate and approve such revisions to <br />said Agreements as the Mayor determines are necessary or desirable for the protection of the City, so <br />long as the essential terms and conditions of the Agreements are not altered. <br /> <br /> 3. The Mayor, City Manager and City Staff are further authorized to do all things <br />necessary on behalf of the City to perform the obligations of the City under such Agreements for <br />Purchase and Sale of CBT Units, and to execute and deliver any and all documents necessary to effect <br />the purchase of water rights under the terms and conditions of said Agreements. <br /> <br /> 4. Funds for the acquisition of said units will come from the loan obtained from the <br />Colorado Water Resource and Power Development Authority. <br /> <br />~ PASSED AND ADOPTED this 1st day of July, 2003. <br /> <br /> Tom Davidson, Mayor <br /> <br /> ~ancy Va~a,[ Ci~ Clerk <br /> <br />G:\COUNCIL~ResolutionsL2003~Res 18, CBT Purchases.doc <br /> <br /> <br />