HomeMy WebLinkAbout1980-035-04/01/1980-AUTHORIZING THE CITY TO ENTER INTO AN AGREEMENT WITH THE PLATTE RIVER POWER AUTHORITY FOR THE LEASE RESOLUTION 80-35
OF TPE COUNCIL OF THE CITY OF FOPT COLLTNS
AUTHORIZING THE CITY TO ENTER INTO AN
AGREEMENT WITH THE PLATTE RIVER POWER
AUTHORITY FOR THE LL'A4F OF PLEASANT VALLFY
AND LAKE CANAL WATER TO THE AUTHORI`T'Y
WHEREAS , the City owns over 40 percent of the water stock
in the Pleasant Valley and Lake Canal Company, and
WHEREAS , for the next several years the water represented
by this stock is in excess of the Citv' s requirements , and
T4HFREAS , during the next five years , Platte River Power
Authority (PRPA) needs a supplemental water source and desires
to enter into an agreement with the City to have the option of
leasing Pleasant Valley and Lake water, and
WHFRPAS, the proposed agreement would give PRPA the option
of leasinq up to 23 4 percent (approximately 2550 acre feet)
of the Pleasant Valley and Lake stock each year for five years,
commencing in 1981 for the sum of $7 , 200 each year plus S52 25
per acre foot of water rented, and
WHEREAS, the City Council and the stockholders of the
Pleasant Valley and Lake Canal Company have previously approved
an agreement that provides for methods of utilizing the raw
water represented by the City' s stock ownership in the company
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF FORT COLLINS that the City Manaqer be , and he hereby is ,
authorized and directed to enter into an agreement with Platte
River Power Authority grantinq the option, for a period not
to exceed five years commencing January 10 , 1981 , to lease in
any year up to 23 4 percent of the waters represented by the
City' s stock in the Pleasant Valley and Lake Canal Company
Passed and adopted at a regular meetina of the Council of
the City of Fort Collins held this 1st day of April 1980
ATTEST or
Clerk
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