HomeMy WebLinkAbout1988-061-05/03/1988-CBT WATER UNITS NORTH POUDRE IRRIGATION CO PURCHASE SHARES RESOLUTION 88-61
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE PURCHASE OF
ONE THOUSAND SIX HUNDRED TEN
UNITS OF CBT WATER AND
TWO HUNDRED FIFTY
SHARES OF NORTH POUDRE IRRIGATION COMPANY
WHEREAS, population and water demands are expected to continue to grow
during the next several decades; and
WHEREAS, the price of waters of the Northern Colorado Water
Conservancy District (CBT) and shares in local irrigation companies are
approximately one-third of the 1980 price, but have recently begun to
increase in price; and
WHEREAS, there will likely be increased competition and speculation
for water resources along the Northern Colorado Front Range; and
WHEREAS, it is in the best interest of the City that purchases of
water be made in advance of actual use; and
WHEREAS, several parties desire to sell One Thousand Six Hundred Ten
(1,610) units of CBT water and Two Hundred Fifty (250) 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. WSSC CBT 1,110 units $825/unit $915,750
2. Moody CBT 500 units $825/unit $412,500
3. Moody NPIC 200 shares $3,490/share $698,000
4. Bird NPIC 24 shares $3,400/share $ 81,600
5. Boresen NPIC 26 shares $3,400/share S 88,400
Total $2, 196,250
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 3rd day of May 1988.�
Mayor
ATTEST:
City Clerk