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1/2.3/84 Page -2- <br />ouncilman Woodson Referred to Item 7. of the Denver Water <br />Final Design of the Project Boa:rd Agreement and commented it was his <br />feeling that the final design was far into <br />the future, did that mean that they would <br />not buy into our share of it or pay for it <br />until that period and time. <br />Mr. Wurl stated that it was his feeling that <br />they were asking for a little more time, <br />in -the event that council decided not to do <br />anything that they would have the right of <br />first refusal for a longer period of time <br />than the original agreement called for. <br />Councilman Woodson inquired if the final <br />design isn't until 1990 for example, does <br />that mean that 3 months after that they <br />would pick up our option on it? <br />Administrator Wurl advised that initially <br />we were the ones that put the limitation in. <br />In -the very beginning they wanted forever <br />a right of first refusal in the event that <br />the City ever decided to sell it any time <br />in -the future had an offer and council was <br />considering it, they would have the right <br />to ,step into that. He informed them he <br />felt our council would want to limit that. <br />Stated what he was really think of was that <br />in :future years, the co ncil may for whatever <br />reason want to sell it/~gmeone else. Maybe <br />politically what might be in the City's best <br />int~srest would be to sell it to Arvada, or <br />Dem~er, or whomever could do the best thing <br />for Louisville. <br />Councilman Luce Conunented was it his understanding that this <br />agreement is a way to hedge our bets so <br />we ]have different options related to water <br />down the line. Asked Administrator Wurl to <br />put this into some context. <br />Wurl replied it was just that to hedge your <br />bets against the inability, i.e. to get <br />Marshall Lake water to finish out the comp <br />plain. Thought it had the side effect of <br />letting people know that you do have another <br />option - the farmers that own Marshall for <br />example; letting them know that the City <br />does have another option so that the price <br />of ;Marshall Lake water doesn't go up to <br />$20,000 a share <br />Councilman Luce inquired what probability <br />would Mr. Wurl give that the City would actually <br />desire to go through this, or is that difficult <br />