HomeMy WebLinkAbout 19-43 Prescribing payment rate in lieu cashRESOLUTION 19-43
A RESOLUTION PRESCRIBING THE PAYMENT RATE FOR PAYMENTS OF CASH-
IN- LIEU OF WATER RIGHTS DEDICATIONS TO THE TOWN OF FIRESTONE,
COLORADO.
WHEREAS, the Town operates a municipal water system and requires the dedication of
water rights in connection with the annexation, subdivision and development of, and water
service to, properties within the Town; and
WHEREAS, pursuant to Sections 1.08.050 and 13.08.010 of the Firestone Municipal
Code, the Town allows, under prescribed circumstances and in the sole and absolute discretion
of the Town, for the dedication requirement to be met by payment of cash in lieu of dedication;
and
WHEREAS, Sections 1.08.050 and 13.08.010 provide that the rate for payments of cash -
in -lieu of water rights shall be as determined by the Board of Trustees from time to time by
resolution, such rate to be not less than one hundred and ten percent (110%) of the then -current
price of a Colorado Big Thompson ("CBT") unit, with an assumed annual yield of 0.60 acre-feet of
actual water per CBT unit; and
WHEREAS, the Board of Trustees previously approved a resolution setting the payment
rate at $38,750.00 per unit of CBT water; and
WHEREAS, the Board of Trustees desires to re -adopt such rate and confirm the assumed
yield requirements of Sections 1.08.050 and 1IWO10 of the Firestone Municipal Code;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE, COLORADO:
Section 1. Effective upon the adoption of this resolution, the payment rate for
payments of cash -in -lieu of water rights dedications shall be $43,900.00 per unit of Colorado
Big Thompson ("CBT") water, with an assumed yield of 0.60 acre-feet per CBT unit. Said rate
shall remain in effect until revised by subsequent resolution of the Board of Trustees.
Section 2. The charges set by this resolution shall supersede and replace any charges
previously set or adopted by the Board of Trustees for the same purpose.
Section 3. All other resolutions or portions thereof inconsistent or conflicting with
this resolution or any portion hereof are hereby repealed to the extent of such inconsistency or
conflict. uj
PASSED AND ADOPTED THIS�vw�> DAY OF 2019.
TOWN OF FIRESTONE, COLORADO
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MMY of.Mayor
ATTEST:
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i Leah Vanarsdall, Town Clerk44
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