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<br />Ordinance 1990-3
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<br />, True Legal Copy . ..
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<br />City Cletk CwCB
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<br />ORDINANCE 1990-3
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<br />AN ORDINANCE OF THE CITY OF FRUITA, COLORADO, PROVIDING FOR
<br />SALES TAX REVENUES TO BE USED AS SECURITY TO PAY
<br />OBLIGATIONS OF THE CITY IN FAVOR OF THE COLORADO WATER
<br />CONSERVATION BOARD FOR THE PURPOSE OF
<br />PROVIDING CAPITAL IMPROVEMENTS
<br />
<br />WHEREAS, pursuant to chapter 3.12 of the Fruita Municipal Code of
<br />the Cit\,! of Fruita, Colorado, the Cit\,! of Fruita, ("the Cit\,!"),
<br />presentl\,! imposes a 2% sales tax on the sale or purchRse of
<br />tangible personal propert\d sold at retail or the furnishing of
<br />services witlHn the Cit\,!; and
<br />
<br />WHEREAS, the C1ty receives a designated portion of Mesa Count\,!
<br />sales tax collections; alld
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<br />WHEREAS, on the 1st day of Ma\,!, 1982, the Cit\,! entered into a
<br />contract ("Contract #C153382") WIth thu D8partment or Natural
<br />Resources, Colorado Water ConservHtion Board, for the purpose of
<br />borrow1ng funds to construct 1mprovuments on the Cit\,! mun1cipal
<br />water s\,!stem, C"s\dstem":'; and
<br />
<br />WHEREAS, on the 1st da\,! of December, 1982, the Cit\,! entered into
<br />a contract ("Contract "C153395") with the Department of NRtural
<br />Resources, Colorado Water Conservatlon Board, for the purpose of
<br />borrowlng funds to construct improvements on the Cit\,! m~n1c\pal
<br />water s\,!stem. ("s\,!stem"); and
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<br />WHEREAS, the Colorado Water Conservatlon Board advanced all funds
<br />pursuant to Contract C153382 and Contract C153395 to the Cit\,!;
<br />and
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<br />WHEREAS, the Cit\d is currently making its
<br />pursuant to Contract C153302 and Contract
<br />payments made to the C1ty from Ute Water
<br />('Uts') toward sa~ct obllgat~ons.
<br />
<br />pa\,!ment obligations
<br />C153395 b\,! appl\,!ing
<br />Conservanc~ Distrlct
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<br />WHEREAS, to secure repa\,!ment of the funds advanced to the Clt\,! b\,!
<br />Colorado Water Conservation Board, the Clt\,! promised to convey
<br />title to portIons or 1ts ~ystem to the Colorado Water
<br />Conservatlon Board; and
<br />
<br />WHEREAS, on the 27th day of December, 1903, the City entered into
<br />an agrRemRnt to marge Jts RU9tHm WIth that o~ ~t~; flnrt
<br />
<br />WHEREAS, IJte l<Jlshes to hnve the C1 t'J' s svst.Rm
<br />free and clear of any. clRim tn ~an'e by
<br />
<br />transFerred to Ute
<br />th8 Colorado Water
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