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2008-13

A RESOLUTION

AUTHORIZING A MASTER PROPERTY CONVEYANCE AGREEMENT AND SUBSEQUENT IMPLEMENTING AGREEMENTS WITH THE ONE HORSE BUSINESS IMPROVEMENT DISTRICT

WHEREAS, the City of Lakewood (the "City") entered into certain agreements in 1995 and 1996 with the predecessors of the One Horse Business Improvement District (the "District") relating to the construction of public improvements to serve certain real property located in the County of Jefferson, State of Colorado and annexed to the City (the "Improvement Agreements"); and,

WHEREAS, pursuant to an assignment agreement dated November 1, 2002, all of the obligations under the Improvement Agreements were assigned to the District; and,

WHEREAS, the District and the City anticipate that they may enter into one or more future agreements, pursuant to which the District will be obligated to provide public improvements (each a "Future Improvement Agreement"); and,

WHEREAS, the District may, from time to time, acquire property or construct improvements (collectively, the "Additional Improvements") that would be useful to the City's ability to accomplish its planning and development objectives; and,

WHEREAS, the District may wish to provide such Additional Improvements to the City in order to assist the City in accomplishing such planning and development objectives; and,

WHEREAS, the City wishes to enter into a Master Property Conveyance Agreement, pursuant to which the City and the District may enter into subsequent agreements in accordance with the terms of the Master Property Conveyance Agreement, in order to give the District credit against existing or future obligations in exchange for the Additional Improvements; and,

WHEREAS, the Master Property Conveyance Agreement does not obligate the City to accept any Additional Improvements and the granting of a credit does not create an obligation for the City to construct, acquire or otherwise provide any improvements under the Improvement Agreements, any Future Improvement Agreement or otherwise.

NOW, THEREFORE, BE IT RESOLVED by the City Council of Lakewood, Colorado, that:

SECTION 1. The City Manager is hereby authorized to execute, and the City Clerk to attest, a Master Property Conveyance Agreement with the One Horse Business Improvement District, and any subsequent agreements pursuant to the terms thereof, each in form approved by the City Attorney.

INTRODUCED, READ AND ADOPTED by a vote of 10 For and 1 Against at a regular meting of the City Council on January 14, 2008, at 7 o'clock p.m. at the Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.

Bob Murphy, Mayor

ATTEST:
Margy Greer, City Clerk

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