City Council Agenda and Packet 1997 01 07

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ORDINANCE NO. 1245 SERIES 1996 AN ORDINANCE AUTHORIZING THE PAYMENT OF CITY OF LOUISVILLE MONEY FOR THE ACQUISITION OF A PARCEL OF LAND FOR OPEN SPACE PURPOSES WHEREAS, the City of Louisville and the County of Boulder intend to enter into a Purchase Contract for the acquisition for open space purposes of a parcel of land of approximately 46 acres, located adjacent to the north boundary of the City of Louisville and the Hillsborough North Subdivision at 8700 Baseline Road, and more particularly described and depicted on Exhibit A, attached hereto (hereinafter "the Callahan Property and WHEREAS, the City and County shall each own an undivided one half interest in the Callahan Property; and WHEREAS, the City and County shall pay the owners of the Callahan Property a total purchase price of Four Hundred Thousand Dollars ($400,000.00) for such property, with the City to pay Two Hundred Thousand Dollars ($200,000.00) of such purchase price; and WHEREAS, the City Council by this ordinance desires to identify the source of funding for such purchase and otherwise comply with Section 31 -25 -202, Colorado Revised Statutes. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Unless other funds become available for use by the City as determined by the City Council, moneys from the City Conservation Trust Fund shall be used to pay the City's Two Hundred Thousand Dollar ($200,000.00) share of the purchase price of the Callahan Property, which Property is described on Exhibit A, attached hereto and incorporated herein by reference. Such amount shall be paid in cash, certified funds or City warrant. Section 2. The payment for the Callahan Property shall be subject to any necessary budgetary transfers or supplementary budgets and appropriations in accordance with state law. Section 3. Nothing in this Ordinance is intended to nor