HomeMy WebLinkAbout1990-061-05/01/1990-98 SHARES NINETY EIGHT SHARES NORTH POUDRE IRRIGATION PURCHASE RESOLUTION 90-61
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE PURCHASE OF NINETY-EIGHT
SHARES OF NORTH POUDRE
IRRIGATION COMPANY
WHEREAS, population and water demands are expected to continue to grow
moderately during the next several decades; and
WHEREAS, there will likely be increased competition and speculation
for water resources along the Northern Colorado Front Range causing prices
to continue to rise quite rapidly; and
WHEREAS, the Council and the Water Board has determined that it is in
the best interest of the City to purchase additional supplies in advance of
actual use; and
WHEREAS, several parties desire to sell a total of 98 shares of North
Poudre Irrigation Company to the City; and
WHEREAS, the Water Board and staff recommend that the City purchase
this water.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager be, and he hereby is, authorized to purchase
the following quantities of water:
Name Type Quantity Price Cost
1 . Foster NPIC 49 shares $5,200/share $254,800
2. D. Matsuda NPIC 24 shares $5,200/share $124,800
3. Matsuda Farms NPIC 25 shares $5,200/share $130,000
Total $509,600
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 1st day of May 1990.
Mayor
ATTEST:
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City Clerk