HomeMy WebLinkAboutM1996-161 - 06/11/1996MOTIONS - 6/11/96
Motion approving the recommendation that the option to exercise the right to
purchase up to 35,000 acre feet of water rights from Garwood Irrigation Company
expiring December 31, 1996 not be exemised at this time that further consideration
be given to exercising the option prior to December 31, 1996 and that the City
Manager be directed to initiate the necessary action to enable the City to do so prior
to December 31, 1996 should the City Council desire to do so. The price will
increase from $440 to $450 per acre foot on July 1, 1996 and monthly option
contract payments will continue at $25,000 and will apply to the purchase price at
the time a successful purchase price is completed.
ATTEST:
City Secretary
City of Corp~L~hristi
M96-161