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HomeMy WebLinkAbout1986-205-12/16/1986-MEMORANDUM OF UNDERSTANDING THORNTON COLORADO WATER SUPPLY STORAGE COMPANY RESOLUTION 86- 205 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE MAYOR TO EXECUTE A MEMORANDUM OF UNDERSTANDING WITH WATER SUPPLY AND STORAGE COMPANY AND THE CITY OF THORNTON, COLORADO WHEREAS, the City of Fort Collins ("City") , the City of Thornton ("Thornton") , and Water Supply and Storage Company ("WSSC") are involved in a lawsuit in the District Court of Larimer County; and WHEREAS, the City is a shareholder in WSSC; and WHEREAS, Thornton and WSSC have proposed an agreement to the shareholders of WSSC, which agreement has as its purpose the resolution of the lawsuit, which lawsuit, if resolved, may result in the implementation of Thornton's plan to export certain waters from and return other waters to the Cache LaPoudre Basin; and WHEREAS, sufficient information is not presently available from Thornton as to its plan and the impact that such plan might have on the City; and WHEREAS, the City wishes to protect its interests as they may be affected by Thornton's plan as authorized in the proposed settlement agreement; and WHEREAS, a Memorandum of Understanding has been drafted to afford the City security as to its future rights and remedies in order that the City may better determine how to vote regarding the proposed settlement agreement; and WHEREAS, it is in the best interests of the citizens of the City of Fort Collins that the Memorandum of Understanding be executed by the parties. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the Mayor be, and he hereby is, authorized to execute the Memorandum of Understanding between the City of Fort Collins, the City of Thornton and the Water Supply and Storage Company, which pertains to the proposed settlement agreement for Civil Action No. 86CV982. Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this 16th day of December, A.D. 1986. Mayor ATTEST: I"--,� I". City Clerk