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Boulder County Clerk, CO ORD R 26.(]0 2378877 Page: 1 of 5 01/02/2003 0B:21~ D ORDINANCE NO. 1381 SERIES 2002 AN ORDINANCE AUTHORIZING AND RELATING TO THE PAYMENT OF MONEYS FOR THE ACQUISITION OF A FEE TITLE INTEREST IN AND RECIPROCAL CONSERVATION EASEMENTS OVER CERTAIN VACANT REAL ESTATE FOR OPEN SPACE PURPOSES WHEREAS, the County of Boulder ("County") is the owner of a certain parcel of land totaling approximately 154.48 acres, more or less, located at the southeast comer of the intersection of Colorado State Highway 42 and South 104th Street, and more particularly described in Exhibit A, attached hereto and incorporated herein by reference (the "Property"); and WHEREAS, the City of Louisville, the City of Lafayette and the County intend to enter into an Intergovernmental Agreement (the "IGA") for purchase and sale of fee title interests in and reciprocal conservation easements over the Property; and WHEREAS, under the IGA, Louisville will acquire an undivided twenty-five percent fee interest in the Property and reciprocal conservation easements over the entire Property; and WHEREAS, under the IGA, Louisville shall purchase its interests in the Property for a purchase price equal to twenty-five percent of the County's initial purchase price paid in 2001, plus a five percent per annum price escalation, with such purchase price to be paid from the funds to be made available to Louisville for open space purchases under the February 19, 1999, Northwest Parkway Intergovernmental Agreement, as amended, among Louisville, Lafayette, Broomfield, Boulder County, and the Northwest Parkway Highway Authority; and WHEREAS, the City Council by this ordinance desires to identify the sources 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, funds to be made available to the City of Louisville for open space purchases under Paragraph 4.3 of the February 19, 1999, Northwest Parkway Intergovernmental Agreement, as amended, among Louisville, Lafayette, Broomfield, Boulder County, and the Northwest Parkway Highway Authority, shall be used for the City's purchase of an undivided fee interest in and reciprocal conservation easements over the Property described in Exhibit A. The amount authorized for payment of the purchase price in each year in which closing may occur on the Property are as set forth in Exhibit B, attached hereto and incorporated herein by reference.