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Home My WebLink AboutResolution 2000-076 sale of type I non irrigation water rightsMARANA RESOLUTION NO. 2000-76 A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, APPROVING THE AGREEMENT FOR SALE OF TYPE 1 NON-IRRIGATION GRANDFATHERED WATER RIGHT EXTINGUISHMENT CREDIT. WHEREAS, Territorial Fund, L.L.C. (Seller) is the legal holder and owner of Arizona Department of Water Resources Extinguishment Credit for 855 acre-feet resulting fi:om the extinguishment of that certain Type 1 Non-Irrigation Grandfathered Water Right issued by the Arizona Department of Water Resources (ADWR); and WHEREAS, the Town has a need of Extinguishment Credits in the Town's groundwater account to offset the gallons per capita consumption and/or to meet the requirements of the Central Arizona Groundwater Replenishment District; and WHEREAS, the Mayor and Council find that it is in the best interest of the Town to acquire Type 1 Non-Irrigation Grandfathered Water Right Extinguishement Credit. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of Marana, Arizona, that the Town of Marana Agreement for Purchase of Type 1 Non-Irrigation Grandfathered Water Right Extinguishment Credit fi'om Territorial Fund, L.L.C. is hereby approved. PASSED AND ADOPTED by the Mayor and Council of the Town of Marana, Arizona, this 5th day of July, 2000. ~ ATTEST: ~SUTTON, JR. Town Clerk APPROVED AS TO FORM: D~qniel J. Hocl(~, Es~. As Town Attorney and not personally Marana, Arizona Resolution No. 2000-76 Page 1 of 1 TOWN OF MARANA AGREEMENT FOR PURCHASE OF TYPE 1 NON-IRRIGATION GRANDFATHERED WATER RIGHT EXTINGUISHMENT CREDIT THIS AGREEMENT FOR PURCHASE OF TYPE 1 NON-IRRIGATION GRANDFATHERED WATER RIGHT EXTINGUISHMENT CREDIT, entered into as of the 9.7- day of3't,,n~, 2000, by and between the TOWN OF MARANA, ARIZONA, an Arizona municipal corporation (hereinafter referred to as "Marana") and Territorial Fund L.L.C. c/o Jay Kittle (hereinafter referred to as "Seller"). Recitals: Whereas, Seller is the legal holder and owner of Arizona Department of Water Resources Extinguishment Credit for 855 acre feet resulting from the extinguishment of that certain Type 1 Non-Irrigation Grandfathered Water Right No. 58-105292.0006 issued by the Arizona Department of Water Resources ("ADWR"). Marana desires to purchase from Seller, and Seller desires to sell to Marana, the Extinguishment Credit upon the terms and conditions as more particularly hereinafter set forth. NOW, THEREFORE, in consideration of the promises hereinafter set forth, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Marana agree as follows: Seller agrees to convey the aforesaid Extinguishment Credit, free and clear of all liens and encumbrances whatsoever, to Marana in consideration for Marana's payment to Seller of the sum of Forty-four thousand eight hundred eighty-seven and 50/100 Dollars ($44,887.50) (the "Purchase Price"). Upon execution of this Agreement, Seller shall deliver to Marana an executed copy of the form of Notice of Change of Ownership attached hereto as Exhibit "A" (the "Change of Ownership"). THIS AGREEMENT MUST BE APPROVED BY THE MAYOR AND COUNCIL OF THE TOWN OF MARANA TO BECOME EFFECTIVE AND BINDING. Once so approved, this Agreement shall be effective upon execution by all parties (the "Effective Date"). However, this Agreement must be approved by the Mayor and Council within twenty (20) business days of the execution hereby by Seller, or it shall thereupon be rendered null, void, and of no further force or effect. Upon Marana's receipt of Mayor and Council approval of this Agreement, Marana shall pay the Purchase Price to Seller in exchange for Seller's delivery of the original Change of Ownership to Marana. FA\WATER/TYPE 1 WATER RIGHT EXTINGUISHMENT CREDIT CONTRACT TERRITORIAL FUND.DOC Page 1 of 4 Marana shall be responsible for paying all fees charged by the ADWR to transfer the Extinguishment Credit. Seller shall cooperate with Marana in processing the transfer of the Extinguishment Credit and shall be responsible for securing any consents and signatures of any of Seller's predecessors-in-interest to the Extinguishment Credit as may be required by the ADWR. This Agreement shall be binding upon and shall inure to the benefit of the heirs, administrators, executors, successors and assigns of Marana and Seller. In the event of default by either party under any provision of this Agreement, the recourse available to the non-defaulting party shall be limited to an action for specific performance. In the event of litigation, the successful party shall be entitled to recover its reasonable attorneys' fees and costs incurred. IN WITNESS WHEREOF, the parties have hereunder set their hands the day and year first above written. MARANA: SELLER: TOWN OF MARANA, ARIZONA, an Arizona municipal corporation APPROVED AS TO FORM: ~~not personally ATTEST: TERRITORIAL FUND L.L.C. By: ~~A~ F:\\WATERJTYPE I WATER RIGHT EXTINGUISHMENT CREDIT CONTRACT TERRITORIAL FUND.DOC Page 2 of 4 ACKNOWLEDGMENT STATE OF ARIZONA ) ) SS. COUNTY OF PIMA ) This instrument was acknowledged before me this day of,~ ~ day of ,2000, by Not-a~y Pt~b~ic My Commission Expires: F:\\WATERJTYPE I WATER RIGHT EXTINGUISHMENT CREDIT CONTRACT TERRITORIAL FUND.DOC Page 3 of 4 EXHIBIT "A" Completed Notification of Change of Ownership ora Type 1 Non-Irrigation Grandfathered Water Right Extinguishment Credit Form A photocopy of Type 1 Non-Irrigation Grandfathered Water Right Extinguishment Credit Certificate should be attached, original delivered at time of payment. F:\\WATER/TYPE 1 WATER RIGHT EXTINGUISHMENT CREDIT CONTRACT TERRITORIAL FUND.DOC Page 4 of 4 JU'1-22-2000 ~9:12 ADbJR TAMA 520 628 6759 P.02 STATE OF ,AI~[7,ONA DEPARTMENT OF WATER RESOURCES OFFICE OF ASSURED AND ADEQUATE WATER SUPPLY 500 North Third Street - Phoenix, Arizona 85004=~921 Phone (602) 417-2460 = Fax (602) 417-242.3 NOTIFICATION OF CONVEYANCE OF EXTINGUISHMENT CREDITS The undersigned parties hereby notify the ~,rtzon~ Department of Wat,~,r Resource~ of the conveyance of the fo/lowing g. xtlnguishm~nt Credlt~: I. Exdnguidlment Doeumem Number: 55 -1 0 5 2 9 2 · 0 0 0 6 2. Please iudtcate: Active Management Area (AMA) in which the ~ndfather~d fight w~ located: Tucs on 3. EffecQve date of this conveyance: 7 ! '7 / 00 Amoun~ofcreditzoncurr~atExtinguhhmemDocum~nt: 855 AcroF~ Amount ofe.Vdnguishment ~r~dits 'to be conveyed: t~ 5 5 Acre Feet $. Are ~e cr~i~ currently pledged to an azsured water ~pply? ~Yes ~ No Ifycs, whi~ ~e: N~e D~ ~, modification of designation 6. Will ~ conv~ed credi~ be ~ ~o d~o~e ~ ~)~ed wat~ ~ly ~r a ~ of ~s~d wat~ ~pply? x't~o I~yes, wh~t~pli~tion: N~e ~own of Marana D~::26-400~06 (if p~nd~) SELLEI~JGKANTOR (print or NAME Territorial Fund L.L.C. c/o Jay Tucson, kZ 85705 PHONE 520-884-5198 ~13NATURE. 'h'~Lf~ ' SELLER'S UTHO D AO-'EN7 . ~UYEPJGRANTEE (Print or type) NAME Tow_n of Marana Kittle ADDRESS 13251 N. Lon Adams Rd. Marana, AZ 85653 PHONE ~20-616-4908 _ _ ~_harlaa Bradley DeSvain - Utilities NAME ~I1~25 OF BUYEK'S AUTI4ORIZED AGENT Director /SIG~ATUR~ OF B~r'BK~R ]~K SAL'I'HOR/ZF-D AGENT ~ATE)