HomeMy WebLinkAboutORDINANCE 16-05o
ORDINANCE NO.16-05
AN ORI)INANCE CONSENTING TO TRANSFER ONE
UNIT OF WINDY GAP WATER BY THE LEFT HAND WATER
DISTRICT AND AUTHORIZING AND DIRECTING THE
MAYOR AND TOWN CLERK OF THE TOWN OF ESTES PARK
TO EXECUTE AND FILE,ON BEHALF OF THE TOWN OF
ESTES PARK,COLORADO,SUCH DOCUMENTh AS ARE
NECESSARY TO CONSENT TO THE TRANSFER OF SAID UNIT
OF WATER OF THE MUNIC[PAL SUBDISTRICT,NORTHERN
COLORADO WATER CONSERVANCY DISTRICT
NOW,THEREFORE,BE IT ORDAINED BY THE BOARD OFTRUSTEESOFTHETOWNOFESTESPARK,COLORADO.
Section 1.The Board of Trustees of the Town of Estes Park,Colorado,
hereby consents to the transfer of one (1)Unit of Windy Gap water from the Left HandWaterDistricttotheCityofLafayette.The one (1)Unit being transferred was originallytransferredtotheLeftHandWaterDistrictfromtheTownofEstesPark,ColoradopursuanttoOrdinanceNo.12-88.
Section 2.The Mayor and Tow-n Clerk of the Town of Estes Park,Colorado,
be and hereby are authorized and directed to execute and file,on behalf of the Town,
such other and ffirther documents as are required by the Municipal Subdistrict,Northern
Colorado Water Conservancy District to evidence the consent of the Town of Estes Park
to the transfer of the one (1)Unit of Subdistrict Windy Gap Water.
Section 3.That the Mayor and Town Clerk of the Town of Estes Park,Colorado,be and hereby are authorized and directed to execute the Petitions for WaterAllotmentContractsoftheCityofLafayette.The copy of the Petition for WaterAllotmentcontractforLafayetteisattachedheretoasExhibit“A”.
Section 4.The Town of Estes Park hereby recognizes and agrees that itsobligationtorepayitsportionofthebondedindebtednessoftheSubdistrictrelatingtotheWindyGapprojectdoesnowandwillinthefuturecontinuetoexist;that said obligations
will not be discharged until the repayment of all bonded indebtedness incurred by theSubdistrictasofthedatehereof;and that the Subdistrict may levy a special assessmentpursuanttoC.R.S.37-45-123 on lands within the Town pursuant to the terms of theWaterAllotmentContracttotheTownofEstesParkdatedJuly11,1975,in the event
that Subdistrict does not,for any reason,including,but not limited to,the insolvency orbankruptcyoftheCityofLafayetteortheLeftHandWaterDistrict(with regard to the
one (1)unit originally transferred pursuant to Ordinance 12-88),receive the annualpaymentsrequiredbytheWaterAllotmentcontractoftheCityofLafayette,or in the
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event that the Water Allotment contract of the City of Lafayette is terminated by the
Subdistrict according to its terms.
Section 5.The adoption of this Ordinance,and the execution of the
documents authorized herein,shall not revoke or repeal Ordinance No.1.0-75 of the
Town of Estes Park,as adopted on May 13,1975,nor Ordinance No.12-88 of the TownofEstesPark,as adopted on May 24,1988.
Section 6.The Board of Trustees of the Town of Estes Park,Colorado,
herewith finds,determines and designates that this Ordinance is necessary for the
immediate preservation of the public peace,health and safety in order to immediately
authorize the transfer of the Windy Gap water,and since it is the opinion of the Board of
Trustees that an emergency exists,this Ordinance shall take effect upon its adoption.
PASSED BY THE BOARD OF TRUSTEES AND SIGNED THIS flDAYOF,2005.
TOWN OF ESTES PARK,COLORADO
ATTEST
•ji’;.2:($
C‘I H II
I hereby certify that the above Ordinance was introduced and read at the meeting
of the Board of Trustees on the day of -er ,2005,and publishejn a
newspaper of general circulation in the Town of Estes Park,Colorado,on the QdayoftNt,2005.
TOWN OF ESTES PARK
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PETITION TO
MUNICIPAL SUBDISTRICT
NORTHERN COLORADO WATER CONSERVANCY DISTRICT
FOR WATER ALLOTMENT CONTRACT
The City of Lafayette,Colorado,a Colorado home rule municipal corporation,acting by and through its Water Fund Enterprise (hereinafter “Petitioner”),herebypetitionstheMunicipalSubdistrict,Northern Colorado Water Conservancy District,apoliticalsubdivisionoftheStateofColorado,and a body corporate with all the powers of
a public or municipal corporation (hereinafter called “Subdistrict”)organized andexistingbyvirtueofC.R.S.§37-45-101 et cq.,for an allotment contract pursuant toC.R.S.§37-45-123,for the beneficial use of water under and pursuant to the followingtermsandconditions:
Definitions.The following definitions shall apply:
(a)“Acre-foot”shall mean 43,560 cubic-feet of water and any volume ofwaterdeliveredbytheSubdistrictwillbecomputedontheassumptionthat
a flow of one cubic-foot of water per second of time will equal two acre-
feet in twenty-four hours.
(b)“Board”shall mean the Board of Directors of the Subdistrict.
(c)“Carriage Contract”shall mean that Amendatory Contract entered into onMarch1,1990,between the Subdistrict,the Northern Colorado WaterConservancyDistrict,and the United States of America for the purpose ofutilizingtheunusedcapacityofthefacilitiesoftheColorado-Big ThompsonReclamationProjectforthecarriageofwaterdevelopedbytheSubdistrict,andanysubsequentamendmentsorsuccessorcontractsforthesamepurpose.
(d)“Delivered Water”is that Subdistrict water delivered to Petitioner for use
by the Petitioner.
(e)“Entity”shall mean any public corporation,person,mutual ditch
company,water users’association or private corporation.
(f)“Operating Agreement”shall mean an agreement required by the
Subdistrict for provision of services that may be requested by Petitioner
and which can be provided by the Subdistrict.Said agreement may
contain,but not be limited to,provisions relating to the quantity,location
or time of water delivered pursuant to this Contract,provisions for thepaymentbyPetitionerofcostsassociatedwiththeconstruction,
modification,operation,maintenance,repair or administration of new oradditionalfacilitieswhicharerequiredtodeliverwatertoPetitionerat
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project system delivery points if said facilities are necessary to provide
water to Petitioner in a manner which will not impair the ability of the
Subdistrict to deliver water to other allottees of the Subdistrict,or
provisions for the payment of costs which may arise from services to
Petitioner not otherwise provided for under this Contract.
(g)“Project water”shall mean all water that accrues to the use of the Northern
Colorado Water Conservancy District or its allottees by reason of the
Colorado-Big Thompson Reclamation Project.
(h)“Subdistrict water”shall mean the quantity of water acquired and obtained
by the Subdistrict from the development and construction of the Windy
Gap Project pursuant to applicable state law,and which the Subdistrict
introduces into the project system either directly or by exchange and
which is deliverable to the Subdistrict through the project works.
(i)“Unit”shall mean 1/480th of the Subdistrict water supply annually made
available for distribution by the Board.
G)‘Water Year”shall mean the period from November 1 of one calendar
year through October 31 of the next succeeding calendar year.
(k)“Windy Gap Project”shall mean that project (including the acquisition
and perfection of water rights).constructed by the Subdistrict for the
diversion of waters from the Colorado River at or near its confluence with
the Fraser River and Carriage of this Subdistrict water to the Eastern Slope
for beneficial use pursuant to the terms of the Carriage Contract.For
purposes of this Contract,said Project is defined as those facilities
necessary to divert,pump,store,regulate,and introduce into the Colorado-
Big Thompson Project that quantity of Subdistrict water which will
produce an average deliverable quantity of water equal to approximately
48,600 acre-feet per water year under the water rights decreed to the
Windy Gap Project and in accordance with all applicable agreements,
court decrees and orders.
2.Quantity of Water.Petitioner petitions for one (1)Unit of Subdistrict water for
annual delivery commencing as of the date of the granting of this petition by the
Board and for so long thereafter as Petitioner thily complies with all the terms,
conditions and obligations hereinafter set forth,but in no event for a term less
than the period required for the payment of bonds or other fixed indebtedness
incurred by the Subdistrict for the Windy Gap Project during any period prior totransferofapartorallofPetitioner’s allotment to an entity within the Subdistrict.
3.Use of Water.Petitioner agrees that any Subdistrict water allotted by the Board
shall be for domestic,irrigation,municipal and industrial use within or through
facilities or upon lands owned or served by said Petitioner,provided,however,
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that (i)all lands,facilities and service areas which receive benefit from the
allotment (whether water service is provided by direct delivery,by exchange or
otherwise)shall be situated within the boundaries of the Subdistrict,and (ii)said
water may be seasonally transferred by Petitioner for such uses within Northern
Colorado Water Conservancy District or Subdistrict boundaries.Petitioner also
agrees to (i)account for,by the use of separate water meters,all deliveries of
water to users that will receive Subdistrict water;(H)ceni’,prior to November 1
of each year,that it owns,leases or otherwise controls sufficient water from
sources other than Subdistrict water to supply water for the next water year to any
and all service areas located outside of the Subdistrict boundaries;and (iii)
provide to the Subdistrict,on or before November 30 of each year,a complete
accounting of the disposition and use of all water used by it during the previous
water year.Petitioner shall not receive Subdistrict water in excess of the quantity
required by the metered uses of water which are within the Subdistrict boundaries.
Nothing herein shall prevent the Petitioner from reusing Subdistrict water,by
direct delivery,exchange or otherwise,provided that the first use thereof is for
benefit of lands,facilities and service areas within the boundaries of the Northern
Colorado Water Conservancy District or Subdistrict or as otherwise provided by
law and Subdistrict policy and regulations.
4.Deliverv of Subdistrict Water.Pursuant to terms of the Carriage Contract,the
introduction,storage,carriage and release of Subdistrict water into,through or
from the Colorado-Big Thompson project system and the manner of delivery,
measurement and accounting therefor shall be in accordance with procedures in
use between the United States and Northern Colorado Water Conservancy District
for the delivery of Project water or as such procedures are herein or may hereafter
be modified by agreement of the parties.Deliveries of Subdistrict water to
Subdistrict and its allottees shall be made by the United States and the Northern
Colorado Water Conservancy District at project system delivery points.No part
of Petitioner’s Subdistrict water shall be delivered to another entity without the
written authorization of Petitioner.
5.Annual Charges.Petitioner agrees to pay the following annual charges:
(a)Commencing in 2006 and annually thereafter an amount per Unit as
allocated by this contract equal to 1/480th of the sum of (i)the annual
charge required to pay the principal,interest and premium,if any,on
bonds issued or other fixed indebtedness incurred by Subdistrict to finance
the acquisition and construction of the Windy Gap Project;(ii)the annual
costs,exclusive of those costs set forth in Paragraph (b)of this Article,
incurred by Subdistrict in the administration,operation,maintenance,
repair,and rehabilitation of Windy Gap facilities and such other annual
costs as may arise from and be attributable to the operation of Windy Gap
Project;(iii)an annual amount to establish and maintain a reserve equal to
the maximum principal and interest due or to become due in the
succeeding year on all outstanding bonds or other fixed indebtedness of
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the Subdistrict:(iv)such an annual amount,as the Board shall determine
to be necessary,to establish and maintain an operating and maintenance
reserve equal to eighteen months operating and maintenance costs;and (v)
such other reserves as the Board shall determine are necessary for
operation,maintenance,renewal or replacement of Subdistrict facilities.
(b)An amount per acre-foot of Subdistrict water delivered to Petitioner.Said
amount shall be due and payable annually and shall be the sum of (i)the
annual per acre-foot carriage charge levied in accordance with the
Carriage Contract;and (ii)an annual per acre-foot charge for the energy
costs incurred in the operation of those Windy Gap Project facilities
required to divert,pump,store or introduce such water into the Colorado-
Big Thompson Project for carriage and delivery to the Subdistrict.
6.Estimated Demand and Delivery Schedule.On or before August 1 of each year,
Petitioner shall provide Subdistrict with an estimated demand and delivery
schedule,not to exceed the amount of Subdistrict water allotted herein,for its
Subdistrict water for the following Water Year.This schedule shall contain the
time,delivery points and quantities of water which Petitioner estimates it shall
require.This schedule may be modified from time to time as the need warrants
within the physical capabilities of the delivery system and subject to advance
payment by the Petitioner of the charges established in Article 5(d)of the
Carriage Contract.
7.Estimate Statement.Subdistrict shall ffirnish Petitioner with an estimated
statement of anticipated assessments required under Article 5(a)or 5(b)hereof,or
both,on or before August 31 of each year,which statement shall be used by
Petitioner for budgeting purposes for the following fiscal year.
8.Payment of Charges.On or before March 1 of each year,Subdistrict shall render a
billing statement to Petitioner for payment of all charges and costs due under this
contract,as based upon estimated demand for that year as provided in Article 6
hereof.The estimated assessment shall be based upon actual costs incurred
during the previous Water Year,plus such additional amounts reasonably
attributable to inflation.Any credit from the previous Water Year or any
additional charges from the previous Water Year shall be included in the billing
statement rendered.Petitioner shall pay the net charges shown on the billing
statement of estimated assessments on or before April 1 after receipt of statement.
9.Security.
(a)As security to the Subdistrict,the Petitioner agrees,to the extent permitted
by law,to be bound by the provisions of C.R.S.§37-45-123,and that the
foregoing covenant of annual payments will be met,to the extent
permitted by law,from assessments levied by the Subdistrict pursuant to
C.R.S.§37-45-123,or,at the option of Petitioner,such annual payments
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may be fully or partially met by appropriation of funds from such sources
of revenue as may be legally available to said Petitioner for such purpose.
Further,the Petitioner agrees to continue to make the annual payments,asdefinedinArticle5ofthiscontract,for the Unit of Subdistrict water
allotted to it and for which Petitioner is obligated by the adoption of aresolutionwhichresolutionexpresslyshallnotberepealableuntilall
bonded indebtedness of the Subdistrict incurred during any period prior to
transfer of a part or all of Petitioner’s allotment is paid in full according to
the terms of any bond indenture or other indenture issued by Subdistrict.
This is not intended to create a General Obligation of Debt of the
Petitioner.
(b)As further security for the payment of the annual charges required by this
allotment contract,Petitioner also agrees to provide the Left Hand Water
District (“Left Hand’)and the Town of Estes Park (“Estes Park”)with an
annual,irrevocable,standby letter of credit in the amount estimated to
equal one year of annual charges under this allotment contract,which
letter of credit shall be renewed on June 1 of each calendar year.or
Petitioner shall deposit one year of such estimated annual charges into anescrowaccount,which shall be payable to the Subdistrict in the event of afailureofPetitionertotimelypaysuchannualcharges.Left Hand and
Estes Park hereby convey to Subdistrict the right to exercise their rights
under the letter of credit.Petitioner shall be required to maintain the letter
of credit or escrow account until all bonded indebtedness of the Subdistrict
incurred during any period prior to transfer of a part or all of Petitioner’s
allotment is paid in full according to the terms of any bond indenture or
other indenture issued by Subdistrict.If Petitioner,with approval of the
Board,transfers all or part of its allotment to another entity within the
Subdistrict,it shall be relieved of the requirement to maintain a letter of
credit or escrow account to the extent that the transferee provides
equivalent substitute security.
(c)Petitioner,Left Hand and Estes Park agree that the existence of or reliance
upon the letter of credit or escrow account does not affect or modi’
Petitioner’s obligations hereunder or the obligations of Left Hand or Estes
Park to Subdistrict under the Water Allotment Contracts dated September
9,1988,and July 11,1975,respectively.
10.Default.
(a)Notice of Non-Payment or Non-Renewal.If any payment of annual
charges,as herein provided,is not made by the due date,or if the letter of
credit or escrow account described in paragraph 9(b)above are not
maintained or renewed as required therein,written notice thereof will be
given by the Subdistrict to Petitioner at the following designated
addresses:
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City of Lafayette
1290 South Public Road
Lafayette,Colorado 80026
Or at such other address as is furnished to Subdistrict by the Petitioner,
and to Left Hand at the following designated address:
General Manager
Left Hand Water District
P.O.Box2lO
Niwot,Colorado 80544-02 10
Or at such other address as is furnished to Subdistrict by Left Hand,and to
Estes Park at the following designated address:
Town Administrator
Town of Estes Park
170 MacGregor
P.O.Box 1200
Estes Park,Colorado 80517
Or at such other address as is furnished to Subdistrict by Estes Park.
(b)Default.Subdistrict may,in its sole discretion,declare Petitioner to be in
default of this allotment contract if all annual payments due under this
allotment contract are not made by or on behalf of Petitioner,or if the
letter of credit or escrow account described in paragraph 9(b)above are
not maintained or renewed as required therein,within 15 days of the dateoftheNoticeofNon-payment provided in accordance with Article 10(a)
hereof.Subdistrict shall not be deemed to have waived or relinquished the
right to declare a default by virtue of any delay in the declaration of such
default after the expiration of the 15 day period provided for in this Article
10(b).
(c)Reversion.Upon the declaration of default by the Subdistrict,this
allotment contract shall terminate,and Petitioner shall have no further
right,title or interest in the one Unit of Subdistrict water under this
allotment contract except as is provided in Article 10(d)below.At the
time of any such default if all boiids or other fixed indebtedness incurred
by the Subdistrict for the Windy Gap Project during any period prior to
transfer of a part of or all of Petitioner’s allotment have been paid in full,
all right,title and interest in and to the one Unit of Subdistrict water under
this allotment contract shall vest in the Subdistrict for subsequent use or
disposition in its sole and exclusive discretion in the event that the annual
obligations created by article 5 (a)(ii),(Hi),(iv)and (v)hereof are not
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paid.At the time of any such default if there exist amounts due under anyofthebondsorotherfixedindebtednessincurredbytheSubdistrictforthe
Windy Gap Project during any period prior to transfer of a part of or all of
Petitioner’s allotment,all right,title and interest in or to the one Unit of
Subdistrict water under this allotment contract shall immediately re-vest in
Left Hand in accordance with and upon the Water Allotment Contract
dated September 9,1988.between Left Hand and the Subdistrict,as if
such unit had never been transferred to Petitioner.Written notice of said
default shall be provided by Subdistrict to Petitioner and to Left Hand and
Estes Park.Thereafter,Left Hand shall make payment of all annual
charges due under its Water Allotment Contract,all as provided for in Left
Hand’s Allotment Contract,dated September 9,1988,specifically Article
9 thereof If Left Hand shall fail to make timely payment of its obligations
under the Water Allotment Contract dated September 9.1988,all right,
title and interest in or to the one Unit of Subdistrict water under this
allotment contract shall immediately re-vest in Estes Park in accordance
with and upon the terms of the Water Allotment Contract dated July 11,
1975,between Estes Park and the Subdistrict,as though such unit had
never been transferred to Left Hand.Written notice of Left Hand’s default
shall be provided by Subdistrict to Petitioner,Left Hand and Estes Park.
Thereafter,Estes Park shall make payment of all annual charges due under
its Water Allotment Contract,including the one Unit formerly allotted bySubdistricttoPetitioner,all as provided for in Estes Park Allotment
Contract,dated July 11,1975,specifically Article 9 thereof.
(d)Re-Allotment.Subdistrict agrees that it will,upon the filing of a petition
by Petitioner,and notice and hearing,re-allot to Petitioner on the terms
and conditions of this allotment contract all or a portion of the one Unit of
Subdistrict water held by Left Hand or Estes Park subsequent to a defaultofthisallotmentcontractuponafindingthatallamountsowedbyPetitioner,Left Hand and/or Estes Park pursuant to this allotment contract
have been paid to Subdistrict and that Petitioner is entitled to such re
allotment,which findings shall be made by the Subdistrict Board within
60 days of the flting of the petition.Such re-allotment shall likewise be
subject to vesting in the Subdistrict or reversion to Left Hand or Estes
Park in the event of a subsequent declaration of default,all in accordance
with the provisions of this allotment contract,including without limitation
this Article 10.
11.Beneficial Use of Water.Petitioner agrees that the water allotment shall bebeneficiallyusedforthepurposesandinthemannerspecifiedherein,and thisallotmentcontractismadefortheexclusivebenefitofthePetitionerandshallnotinuretothebenefitofanysuccessorsorassignsofsaidPetitionerwithoutpriorspecificapprovalbytheBoard.
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12.Operating Agreement.Petitioner acknowledges and understands that Subdistrict
water is only delivered at project system delivery points and that all facilities,
lands,rights-of-way and easements necessary for the delivery of Subdistrict water
to Petitioner’s service area,are at the sole cost and responsibility of Petitioner to
acquire,construct,operate and maintain.Further,Petitioner recognizes and
understands that the delivery of Subdistrict water to Petitioner through the
Colorado-Big Thompson System is limited during certain periods during the
Water Year and that it is necessary to enter into an Operating Agreement with
Subdistrict providing for the means,times and other matters relating to the
delivery of Subdistrict water to Petitioner.Delivery concerns and problems,
including scheduling,may require Petitioner to construct,operate and maintain
storage,transmission and other facilities for the use of its Subdistrict water
13.Limitations on Rights of Petitioner.In addition to all the other terms,conditions
and covenants contained herein,it is specifically understood and agreed by andbetweenthepartiesheretothattherightsofPetitionerhereunderaresubjecttothe
following terms,conditions and limitations,to all intents and purposes as though
set forth verbatim herein,and made a part hereof by reference,to-wit:
(a)The Water Conservancy Act of Colorado;
(b)The Amendator Carriage Contract dated March 1,1990,between
Subdistrict,the Northern Colorado Water Conservancy District,and the
United States of America,provided,that if any amendment is proposed
which would affect the right of Petitioner to reuse Subdistrict water,the
approval of such amendment shall first be obtained from the Petitioner.
(c)The Rules,Regulations and Policies of the Board,as may be amended
from time to time,including but not limited to the Subdistrict Policy
Regarding First Use,Reuse,Successive Use or Other Disposition of
Subdistrict Water,as adopted by the Board on October 11,1985,and the
Subdistrict Inclusion Policy,as adopted by the Board on October 11,1985.
14.Transfer of Allotment.If Petitioner,with approval of the Board,transfers a pan of
its allotment to another entity within the Subdistrict,Petitioner shall be relieved of
its obligation hereunder to the extent of said transfer,except as othenvise
provided herein.If Petitioner,with approval of the Board,transfers all of its
allotment to another entity within the Subdistrict,Petitioner shall no longer
participate in the Windy Gap Project and the Petitioner shall be relieved of itsobligationscxceptasotherwiseprosidedherein.
15.Future Participation.Nothing herein shall be construed in any manner that will
obligate Petitioner to participate in any ifiture or other project of the Subdistrict orprecludePetitionerfromparticipationtherein.
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16.Authorization.Petitioner attaches hereto a true and correct copy of Petitioner’s
records authorizing the officer,whose name appears hereon,to make this petition.
17.Entire Aareement.This allotment contract.together with the statutes,contracts,
rules,regulations and policies listed or incorporated herein,constitutes the soleagreementandunderstandingofthepartiesandmaynotbeinterpreted,modified
or changed by reference to other documents,understandings or agreements,
whether written or oral,unless the interpretation,modification or change issubsequentlyagreedtoinwritingbythepartieshereto.
IS.Confirmation.This allotment contract,and all agreements related thereto,may beconfirmedbySubdistrictpursuanttoC.R.S.§37-45-143.
Dated:
_____________________________
CITY OF LAFAYETTE,ACTING BY AND
THROUGH ITS WATER FUND ENTERPRISE
By____________________
Chairperson
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AGREEMENT OF LEFT HAND WATER DISTRICT
The Left Hand Water District,hereby agrees:(i)that the existence of or reliance
upon this water allotment contract does not affect or modify its obligations under its
water allotment contract dated September 9,1988;(ii)to be bound by the provisions of
this water allotment contract,as the same may apply to it,including without limitation,
the provisions of Articles 10(c)and 10(d)hereof;and (iii)its agreement in clause (ii)
above does not represent the creation or assumption of any new obligations,but,instead,
represents the continuation of its obligations under its water allotment contract dated
September 9,1988.This Agreement is made in consideration of the Subdistrict
approving the transfer of one Unit of Subdistrict water to the City of Lafayette,a
Colorado municipality,acting by and through the Lafayette Water Fund Enterprise,and ismadeinordertoimplementtheprovisionsoftheLeftHandWaterDistrictWater
Allotment Contract,dated September 9,1988,and the Town of Estes Park Water
Allotment Contract,dated July 11,1975,regarding transfers.
LEFT HAND WATER DISTRICT
ATTEST:
By______
President
Secretary
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AGREEMENT OF TOWN OF ESTES PARK
The Town of Estes Park,Colorado,hereby agrees:(1)that the existence of orrelianceuponthiswaterallotmentcontractdoesnotaffectormodiiitsobligationsunder
its water allotment contract dated July 11,1975;(ii)to be bound by the provisions of thiswaterallotmentcontract,as the same may apply to it,including without limitation,theprovisionsofArticles10(c)and 10(d)hereof;and (iii)its agreement in clause (ii)above
does not represent the creation or assumption of any new obligations,but,instead,represents the continuation of its obligations under its water allotment contract dated July
11,1975.This Agreement is made in consideration of the Subdistrict approving thetransferofoneUnitofSubdistrictwatertotheCityofLafayette,a Coloradomunicipality,acting by and through the Lafayette Water Fund Enterprise,and is made inordertoimplementtheprovisionsoftheLeftHandWaterDistrictWaterAllotment
Contract,dated September 9,1988,and the Town of Estes Park Water AllotmentContract,dated July 11,1975,regarding transfers.
TOWN OF ESTES PARK,COLORADO
ATTEST:
U<.‘,,‘yor
ll:v
_________
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