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ORDINANCE NO. 1640 SERIES 2013 AN ORDINANCE AUTHORIZING THE PAYMENT OF CITY MONEYS FOR THE ACQUISITION OF PROPERTY LEGALLY DESCRIBED LOTS 6, 7 AND 12, COLORADO TECHNOLOGICAL CENTER FILING NO. 2, CITY OF LOUISVILLE, BOULDER COUNTY, COLORADO WHEREAS, the City of Louisville intends to acquire that certain real property consisting of approximately 13.32 acres owned by Passco Colorado Tech Industrial, LLC, and legally described as Lots 6, 7 and 12, Colorado Technological Center Filing No. 2, City of Louisville, County of Boulder, State of Colorado (the "Property "); and WHEREAS, the City and owner of the Property have entered into an Agreement of Sale and Purchase and Joint Escrow Instructions for sale and purchase of the Property upon terms and conditions mutually agreeable to the City and owner; and WHEREAS, the Purchase Contract provides that the City shall pay the owner of the Property a total purchase price of One Million Seven Hundred Thousand Dollars ($1,700,000) for the Property; and WHEREAS, the City Council by this ordinance desires to identify the source of funding for such purchase, make certain determinations regarding the Property, and otherwise comply with applicable laws regarding the acquisition of the Property; 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 Conservation Trust — Open Space & Parks Fund, Capital Projects Fund, Water Utility Fund, and Wastewater Utility Fund shall be used to pay the amount of One Million Seven Hundred Thousand Dollars ($1,700,000) for the Property legally described as Lots 6, 7 and 12, Colorado Technological Center Filing No. 2, City of Louisville, County of Boulder, State of Colorado (the "Property"), as further described in and subject to the terms and conditions of the Purchase Contract therefor. Section 2. City payment for the Property shall be made in cash, certified funds, wire transfer or City warrant, subject to the Purchase Contract and to any necessary budgetary transfers or supplementary budgets and appropriations in accordance with State law. Such City payment is subject to and conditioned upon satisfaction of all conditions in the Purchase Contract for the Property. Section 3. The City Council finds and determines that the Property is being acquired as a general asset of the City for development of a new City Services Facility and not as park or open space property, and that all or portions of the Property, and any interests, licenses, rights or Ordinance No. 1640, Series 2013 Page 1 of 2