HomeMy WebLinkAboutResolution 97-017 purchase agreement with marana water serviceMARANA RESOLUTION NO. 97-17
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF MARANA, ARIZONA,
AUTHORIZING TH~ TOWN TO ENTER INTO AN AGREEMENT FOR PURCHASE AND
SALE OF A PORTION OF THE BUSINESS ASSETS OF MARANA WATER SERVICE,
INC./I.M. WATER COMPANY.
WHEREAS, the Town of Marana, Arizona, is desirous of purchasing local water systems in
an effort to create a consolidated publicly owned water system for the Town; and
WHEREAS, portions of the business assets of Marana Water Service, Inc., owned by Bud
Lewis and I.M. Water Company owned by Leo Chiolero are available for purchase by the Town of
Marana; and
WHEREAS, an Agreement for Purchase and Sale of a Portion of the Business Assets of
Marana Water Service, Inc./I.M. Water Company by the Town of Mararia for the amount of
$327,010.00 has been drafted and presented to the owners for consideration.
NOW, THEREFORE, BE 1T RESOLVED bythe Mayor and Council of the Town of Marana
that the Mayor is authorized to enter into the Agreement for Purchase and Sale of a Portion of the
Business Assets of Marana Water Service, Inc./I.M. Water Company by the Town of Marana for no
more than $327,010.00.
PASSED AND ADOPTED by the Mayor and Council of the Town of Maratm, Arizona, this
18th day of February, 1997.
Daniel J. Hochuli
Town Attorney
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