HomeMy WebLinkAboutresolution.council.001-56~~, the City of Aspen has provided for the issuance
of bonds to Purchase the electric .generation plant, 'water rights,
easements, and distribution system in most of the City, from the
Holy Cross Electric Association,
Inc.,
a Colorad° corporation,
for -a price of $124,000.00.
~I-I~RF.,~, it: i~ necessary for the City 'of ~pen to enter
into an Agreement with Holy Cross Electric Association, Inc., with
respect to said purchase, and it is necessary to authorize ~. E.
Robison,
the Mayor of the City ~of Aspen, to execute said Agreement,
WHE~, a copy of said agreement is attached hereto and
has been by the City~ Clerk marked '~xhib· it A", and is by this
reference thereto incorporated herein and made' a part hereof,
~RFAS, an Escrow Agreement may be necessary to provide
for the designation of an escrow agent to hold certain of the
documents incident to said sale pending the date of closing thereof,
WHE~, there may be certain documents and written instru-
ments not yet prepared or further matters of negotiation between the
City of Aspen and Holy Cross Electric Association, Inc., and the
City Council is willing and desirous ~of authorizing .the Mayor of
Aspen to execute any and all documents~and instruments that may be
necessary to close said sale on behalf of the City of Aspen and to
proceed with such further negotiations as may be necessary,
NOW,. THEREFORE, BE IT RESOLVED:
1. That the ~fayor of Aspen,' A. E. Robison, is hereby
authorized by the City Council of the City of Aspen, Colorado, to
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sign, execute and deliver one or mOre copies of the Agreement
attached hereto and marked a~ ~xhibit A~ providing for certain
details respecting the purchase 'of the electric generation ~ystem,
water rights, easements, and distribution system from the Holy
Cross Electric Association, Inc. for a price of $124,000.00.
2. That the Mayor of As~n, A. E. Robison, is hereby
authorized by the City Council of the City of ~pen, Colorado, to
sign., execute and deliver one or more copies of any escrow agree-
ment or agreements that may be necessary and proper to protect the
City of AsPen and the holder of its bonds pending the-date of
closing of said sale and transfer of said electric system.
3. That the Mayor of Aspen, A. E. Robison, is hereby
authorized to sign, execute and deliver any and all documents or
instruments that may be necessary and' proper to complete said
purchase, and to accept delivery of any and all documents and
instruments on behalf of the City of Aspen, and he is further
authorized to enter into such other and further negotiations as
may be required to complete said sale.
~was ~hereupon moved by Councilman _~/~'~'~.~.~..W_.___ and
seconded by Councilman _~.r~ ~ ~/_ ..e.. ............. that the foregoing Resolution,
read at this meeting, be passed.
The question being upon the adoption of said motion, the
roll was called with the following r~sult:
Those voting AYE:
Council~mn: Fred Glidden
Michael Garfish
Wesley Thorpe
Ed L. Gordier.
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Those voting NAY:
members of the City -Council having voted in favor
of said motion, the presiding officer thereupon declared said
motion carried, at this regular meeting, April 2, 1956.
ATTEST:
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