HomeMy WebLinkAbout1989-102-05/16/1989-AUTHORIZING THE PURCHASE OF 185 ACRE FEET OF WATER RESOLUTION 89-102
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE PURCHASE OF 185 ACRE FEET OF WATER
WHEREAS, on December 20, 1988, the City Council adopted Resolution
88-205 which directed Staff to take the measures necessary to purchase
7,400 acre feet of water; and
WHEREAS, Ordinance No. 70, 1989 authorized the issuance of City of
Fort Collins General Obligation Water Bonds for the purpose of funding said
purchase; and
WHEREAS, Ordinance No. 71, 1989 appropriated funds from the bond
proceeds for the purchase of this water; and
WHEREAS, the City Council has determined that there will likely be
increased competition for and attendant speculation in water resources
along the Northern Colorado Front Range; and
WHEREAS, the City Council has further determined that it is in the
best interest of the City to purchase additional supplies of water in
advance of actual need; and
WHEREAS, several parties have offered to sell water to the City and
purchase agreements have been entered into subject to the approval of City
Council ; and
WHEREAS, the Water Board and Staff recommend that the City purchase
said water.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the water purchase agreements with the following parties are
approved and the City Manager be, and he hereby is, authorized to take
those steps necessary to purchase the following quantities of water and
fulfill the terms of each of the water purchase agreements as listed below:
Name Type of Water* Ac=Ft Cost
1 . East Vine Properties CBT 38 E 45,000
2. Chaves Industrial Bank NPIC ill $ 84,000
3. Weber NPIC 28 $ 21,000
4. Clanahan New Mercer 8 $ 4,750
Total 185 $ 154,750
* Type of water: CBT - Colorado Big Thompson units, NPIC - North
Poudre Irrigation Company shares, New Mercer - New Mercer
Ditch Company
Passed and adopted at a regular meeting of-the Council of the City of
Fort Collins held this 16th day of May 89.
\Jl 1 Pal �yN�l
Mayor
ATTEST: n
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City Clerk