HomeMy WebLinkAbout1954 Ordinance No. 023RY AUTHORITY
ORD IN , •• v E m. 23 SE R IES OF 1954 . --
•• PP11 0VING TH E EXECUTION OF AN t.G REEMENT BETWEEN
?.:i DO , ;,Nu THE ?·1 8 1·VA T TUNNEL \JA TER. AND DEVELOPMENT
COR PJRA':'ION , iIERE TOi'ORE EXECUTED rnr THE llTII DAY OF AU GUST ,
PU R~HJ.GE OF CERT I.IN v:A TEP. RI C!!TS: AND /,U TfIORilING A~TD DIRECTING
• Or~ ;_ PP.O HIS SOR Y NO TE FOR THE B/cLA NCE OF THE PUPCHhS E PR ICE OF
JU THE Pf1U 1EN T OF :::u MS NOW nUF. UNDER SA ill
he City Council of the City of En e l ewo o d ,
uted by the May or and City Clerk of sa id City
y 01 :.u'.j u:it , 1 954 , with the Moffa t Tunnel W.:iter .:md Development
o., a Co l oru.no Corpora l ion , for the purc h .:ise of the followinc rl.escribed
·•atnr ri ;,,:hts :
and
!am jlton-C&bin Creek Ditch,
Exten 3i on a nd Enlarcr.ment of the Ha milton-Cabin
Creek Ditch ,
Me a <lo u Creek Re s ervoir ,
C.:i r i n Creek Reser'loir ,
~ nch Cr eel<' Reserv oir ,
Enlarbement of Ranch Creek Re s ervoir , a nd Fraser 1Jitch,
all a s p.:i:r ticul .:i.r l.r de ;c r ibed in Ca se No . 65 7, District
o urt , Grand County , Colorado; together with rights of
:ay, r:rips , f ilin s f' :-~nd <i ll other a p p urtena nces thereof
n n p b el on ~i n r: to the Corporation ;
t.W:::1t:;. 3 , :::; ..... i ,l ;, trc•cMent provi
~20 1 000 .00 \1<::.S pu id o n ih,., llt.
d for a purchac0 pric e of $385 ,165 .oo , of which
J[.1; of J\u g ust , 1954 , a n d
~.1fERLAS , rlue upon st..i d purc hc:se pric e liy a c r ecment a re o. pcyment of $80 ,000 .00
c a sh Lo the :.ellc r o n Lhe 1st day of Octob er , 1954, the execution of a p romis sory
note to the se ller in the principal sum of t 285 ,165 .oo , b earing interest at
0 1tr (h%) pP r c~nt per r.nn •J M, payabl e in a nnual installments of $31,ooo.oo ,
includjne interes t , on the 1st day o" J ''C ·ral ··r , l?S ;, .... .r~r l thF: h i t day of
C tr· "' •a.r·11 .::rn <i e very y ear the r eaf ter until paid in full, and a p a yment
to the Engl ew ood State De nk , as Trustee, of thP. s um o f $.50 ,000 .00 o n October
4, 1954 , or ~ s soon t ltc r ca fter an a Tr1wt J\r;r ceme nt be drm m llild execute d ,
and Lhc ri~,rtPn L Lo '':!iri lhnk of ~15 ,ooo .oo on Decembe r 1, 1 955 , a nd $10,000 .00
r 1 , 1956, the purnos c o f ~<"Li.ti t'un ds bein E f o r the p ayment of
expe n~c as se t f orth i n the Aereement of AUf:ust 1 1 , 1 954 , and the
pro1tlssory notP. exr c11t1"?d i n a c (·o r'ian c e the rewith .
,;, T ::::~m ·'OR?, tE IT ')l')/ Il!ED GY 1'Hr.: CTTY c :JUNCIL Ofi' THE CITY OF ENGLEV .'OOD ,
';l")L J ~A )
:: Uv., .:.cti on n of the Vr.yor an rl City Cle rk o f the City o f
Co lorad o , i n e xec uvin c a n Ae r eemen t d~te d Aug ust 11, 1954 , bet ween
En~lc wood a n ri t ·:e Mo ff .n t Turme l \·;ater a nd Development Co ., a
ora'ion , for the purch~s n of the f o llowing wat e r riLhts , to-wil:
H: n · 1 :.on -Ca l i n Creek Dj tch ,
Ex tension <:.nrl S nlcr<-·eme n t o f th e Ha milton-Ca b in
Creek T)itch ,
1 3 1ow c~ec l<" ne~0rv oir ,
Reserv oir ,
ch Sre ~k ~e s c rv oir ,
'n L r f;c me n t of 11 ''nch Cr eek n es e rv p ir , a nd
7 r c..::;cr Ditch , 3..Ll as p.::.rti.cularly described i n Case
'fo . f..5 7, Dist ric t Court , Gr.::.nd County, Colorado ;
toGcthP r with rig hts of way , map s , f ilings and a ll
o thPr a ppurt0nanc es t he reof now belong i n G t o the Corp oration;
in accordt.nce ~.it h t.h tr-r, .s of fl: i.ri Ag reement , copy o f 1!h ic h is i.n t he Clerk 's
her n h ,, r.:it ified c..nd c onfirmed . ""i l e , ht? ~,...4 hr>~' : ~
171
h.::i.L t''" ·::yor o <' p ,,. Sity o f 1':n L l t'v.rood , b e a n d he is hereby ,
anth-o,..i zed ... r ~ 1ir0ctNl ~a c:v::ec ut c , .:::.n l the Clerk of said City is here by
:iut horized anri 1 irec i r:!d Lo attest , n. promissory note in the principal
f ~2 8.5 ,1 ~5 .00 , hf' .. r in[ inte r e st a t four 01%) per cent per a nnum,
.o di<' Mof :'..it T1..m nr>l L';.tc r a n d Developme nt Co ., a Colorado
orporation, i n inst~ll mc P t3 o f ~Jl ,000 .00 .:i nnunlly, includin G i nte re s t ,
1 , J 5')5 , id.th p riv il1 r:e of prepo.yme nt as se t f orth
v-i d ch is in the Cle rk's fil e , o.n d the s a id City Clerk
... •1tno r 1 ze a to rl e liver s.:iri note to the Moff at Tunnel Wat er a nd o., ~ Color..:.!i o Corp or ·•ti on , f or th1-1it h .
h P n:w ment of ~20 ,000 .00 to th e s oJ .d Moff at Tunnel Water
us t 11 , 195 4, at the time of the execution of the
it i s here by , rati fied a n d confirme d .
•
That the Tr e asu r er of t hP City of Englew ood be, and he is
.:::.nd dire cte d to issue war rants up on Water Bond f unds
f En 13 lewoor ~nd de l i v er th e s~me as f ollows , t o-wit:
:ar runt to Moff o.t Tunn e l wa t e r a nd Dev e lopment Co., in the sum
or ~Ho ,000 .0 0 , as pa yme nt upon the bala nc e of the do wn payme nt
due s~j d Company , ri e livery to be made f orthwith to s a id Company.
B . Warr.:m t to En g l P-w ood State Bank , Trustee, in the sum of $50 ,000.001
a s f irs t paym ent upon litigation expense , t o be delivered to said
a nk upo n completion of Trust Ag r eeme nt between said Ba nk a nd the
City of En e l e wood , Colorado, acting through Chas. R. Allen, Chairman
of t he \t'ater Advisory Boa rd of s a id City , and the said Ch as. R .
llen i s he r eby ~u Lhorized to 0.xe cute, in b e ha lf of the City of
•;n ul ewood ,: said Trust Agre e ment .
Section 5. That the City ~le rk of the City of Eng lewood ,be, and he is
· t~ transfer fr om the bo nd moneys of the Wa ter Department
of the City of Eng l e\\ood , to t he Ge n e ral Op e rating Funds of the 1:.'ater
')pp arLmr>nt o f the Si ty of En c:;l Pwoo d , ~2 0 ,000 .00 t o reimburse said General
Fun rl for t h e sa id $20 ,000 .00 t l:ereo f heretofore pa id t o the Moff a t Tunnel
Fater e nd De ve lopme nt Co • .:i.t the signin g o f the afores aid Ag reement on
Ausust 11, 19 54 •
• ThP City Coun c il he r eby fj nd s , determines a nd decla res tha t this
-or-a-i -.,-an-ce-j s necessary f o r th e i mm ed ia t e pre serv a t ion of the public peace ,
hea l th , saf etJ' .:~n i c onvenience .
7. In t h0 opinion of the City Coun c il a n eme rgency ex ists ; therefore,
-.-•-•--x--•-in-n nce s ha ll t a ke e f fe c t and be in f orce f rom and a f t er its final
anrl p ublication .
PA SSEJ on FIRS T RU DING b.f the City Counci l of the Cjty of F.nc;lewo od, Colorado,
his 4tt ri :....1 of October , A . D. 1954 , a nd ordered published in the En e lel-i ood
Press .
'li'..'..:·.1 1 l ~ ,.j n~l,..,-r ..J u. , .; '"'-• • · ~ 1 F'• •-.-i u "., Oc .i., ~b,... ·• 1 0 r .. _. • ~ .J.. ... n ...... , •/l •f f').._ -4~r '""1 'i n ~,
.; n """""""' 1 n· ~" ' P .. • ....
O<&L~
TTEST :
r on, City Cle rk o f t he Ci ty of En e l ew oo d , Colorado do gereby certify
.fo r e i::oinc Ordi na.nc e 1-:as introduced a nd read in full and on Res olution
lo.a s o r<1erP(l put'1i::;hed ns rropo sed Ordina nc e f or the meetine October 4, 1954,
he l d by t~e City Co uncil on sa i d rl Pte a nd same was published October 7, 1954,
and Oc t ob e r 14 , 195 4, jn t h f' EnLlE:F o od Pre ss and f or mo r e than ten days there-
f ore ~nd ~~ a sub squent n~e tin c of the City Counc i l he ld October 18, 1954;
DI NANCE rL TIFY ii!G pun J,PP ROV I MG THC EXECU TION OF AN AGREEMEN T BETWEEN
,1!1 , COW FJ1 'O , nrn THE MOFFA T TUNNE L V'A TER AND DEVELOPMENT
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