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RESOLUTION NO. 5 SERIES 2024 A RESOLUTION APPROVING TWO APPLICATIONS TO THE NORTHERN COLORADO WATER CONSERVANCY DISTRICT FOR THE CONVERSION OF A TEMPORARY USE PERMIT TO AN ANNUALLY RENEWABLE PERPETUAL WATER CONTRACT FOR THE RIGHT TO USE COLORADO-BIG THOMPSON PROJECT WATER WHEREAS, the City of Louisville (the "City") currently holds a Temporary Use Permit through the Northern Colorado Water Conservancy District ("Northern Water") granting the City the right to the acquisition and beneficial use of 40-acre-foot units of Colorado -Big Thompson Project water ("CBT Units") originally purchased by the City from Eldon and Martha Bower Family 1992 Revocable Trust for integration into the City's water supply; and WHEREAS, on January 10, 2003, the Board of Directors of Northern Water approved a policy, pursuant to C.R.S. Section 37-45-131, that replaced its Temporary Use Permit program with a contract approach, and has requested that the City convert its current Temporary Use Permit to an annually renewable perpetual water contract; and WHEREAS, the conversion of the City's Temporary Use Permit to an annually renewable perpetual water contract would allow the City to continue to acquire and use the CBT Units the City has been using under the Temporary Use Permit, without any substantive change to the City's water rights; and WHEREAS, to effect the conversion, Northern Water requires the City's payment of a $500 transfer fee and submission of two applications (the "Applications") for entrance into the annually renewable perpetual water contract, and cancellation of the City's Temporary Use Permit; and WHEREAS, submission of the Applications would require the City to enter into an "Operating Agreement" with Northern Water if and when the Board of Northern Water finds and determines that such an agreement is required by reason of additional or special services requested by the City and provided by Northern Water; and WHEREAS, CBT Units are highly desirable for their easy integration with the City water supply system; and WHEREAS, the City Council desires to approve the Applications and authorize their execution and submission, along with the transfer fee, to Northern Water, such that the City may secure the City's continued right to acquire and use the CBT Units previously authorized under the City's Temporary Use Permit; and WHEREAS, the City Council further desires to authorize the Mayor and certain City staff to do all things necessary on behalf of the City, and to execute and deliver the Resolution No. 5, Series 2024 Page 1 of 2