HomeMy WebLinkAbout 18-55 Opt to Purchase AgmntRESOLUTION N0.18-55
A RESOLUTION APPROVING AN OPTION TO PURCHASE AGREEMENT
WHEREAS, by Ordinance No. 897 adopted October 12, 2016, the Board of Trustees
approved a Purchase, Sale and Exchange Agreement (the "Agreement") between the Town and L.G.
Everist, Incorporated ("LGE"); and
WHEREAS, the Agreement authorizes the Town and LGE to enter into an Option to
Purchase Agreement that gives the Town the option to purchase from LGE the Brooks Farm Parcel
(as defined in Exhibit B of the attached Option to Purchase Agreement), a clay lined gravel pit,
water rights, and related rights (the "Valley Option"); and
WHEREAS, Ordinance No. 897 states that the terms and conditions of the Valley Option
shall be presented to the Board of Trustees for review and action by resolution; and
WHEREAS, there has been proposed an Option to Purchase (Brooks Farm) Agreement (the
"Option Agreement") related to the Valley Option; and
WHEREAS, the Board of Trustees finds that the Option Agreement is in the best interest
A the Town and its citizens and desires to authorize its execution.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE TOWN OF FIRESTONE, COLORADO$
Section 1. The proposed Option to Purchase (Brooks Farm) Agreement (the "Option
Agreement") between the Town of Firestone and L.G. Evenst, Incorporated is hereby approved in
essentially the same form as the copy of such Option Agreement accompanying this Resolution.
Section 2. The Mayor or Town Manager (or his designee) are hereby authorized to
execute and deliver the Option Agreement on behalf of the Town; provided that the Mayor, in
consultation with the Town Manager and Water Attorney, is hereby granted the authority to
negotiate and approve such revisions to said Option Agreement as the Mayor determines are
necessary or desirable for the protection of the Town, so long as the essential terms and conditions
of the Option Agreement are not altered.
Section 3. Notwithstanding the foregoing, the decision of whether or not to exercise the
Valley Option, the terms and conditions of the Purchase and Sale Agreement (Exhibit B to the Option
Agreement) and appropriation of funds for the same shall be presented to the Board of Trustees for
review and action by resolution or ordinance, as applicable.
IN
TRODUCED,
ADOPTED this 12th day of December, 2018.
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