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RESOLUTION NO.6 SERIES 2007 A RESOLUTION REVISING CITY POLICY WITH RESPECT TO THE DEDICATION OF WATER RIGHTS TO THE CITY IN CONNECTION WITH ANNEXATIONS WHEREAS, pursuant to Section 16.32.030.G of the Louisville Municipal Code, the City Council, from time to time, is to set forth by resolution the City policy with respect to conveyance of water rights to the Ciity in connection with annexations; and WHEREAS, the City Council previously adopted Resolution No. 52, Series 1988, setting forth City policy with respect to the dedication of water rights in connection with annexations, which Resolution No. 52 was amended in part by Resolution No.9, Series 1989; and WHEREAS, the city staff and the City Council have determined that the policy set forth in Resolution No. 52, Series 1988, as amended by Resolution No.9, Series 1989, should be replaced by an updated and revised policy concerning the conveyance of water rights to the City in connection with annexations, as set forth in this resolution; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO, that the City of Louisville hereby rescinds and repeals in their entirety Resolution No. 52" Series 1988 and Resolution No.9, Series 1989, and hereby adopts the following revised policy with respect to the dedication of water rights to the City in connection with annexations: 1. For all land, at the time of initiation of the annexation procedure all water rights appurtenant to, or historically used on, the propl~rty must be offered to the City for dedication. The City may also in its discretion, and using the criteria set forth in this policy, consider and accept for dedication water rights offered by annexor which are not appurtenant to the land to be annexed. The City shall determine whether said water will be accepted, rejected or accepted in part by the City for dedication. 2. For all land, the annexor shall be required to dedicate water rights providing one raw water credit ("Raw Water Credit") per al;;re of land to be annexed, including public streets, drainage easements and easements for utilities and other purposes, but excluding land conveyed to the City for public uses, such as schoo lis, parks, recreation and open space (hereinafter referred to as the "Net Acreage"). If no water rights are available for dedication, or if those accepted by the City do not provide sufficient Raw Water Credits in accordance with this policy, the annexor or its successor shall pay the City a water resource fee ("Water Resource Fee") in accordance with paragraph 7, below. 3. A Raw Water Credit is defined as the average annual yield in acre feet of the water rights proposed to be conveyed to the City multiplied by the irrigation efficiency rate, plus the storage capacity (if any) associated with the water right to be dedicated. 1