HomeMy WebLinkAbout2006-11-21; Municipal Water District; Resolution 1282EXHIBIT 1
1 RESOLUTION NO. 1282
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A RESOLUTION OF THE BOARD OF DIRECTORS OF CARLSBAD MUNICIPAL
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WATER DISTRICT (CMWD), APPROVING A THIRD AMENDMENT TO THE WATER
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PURCHASE AGREEMENT DATED SEPTEMBER 28, 2004
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6 WHEREAS, the Board of Directors of the Carlsbad Municipal Water District
7 approved a Water Purchase Agreement (Agreement) with Poseidon Resources
8 (Channelside) LLC to purchase from Poseidon up to 25 million gallons of water per day
9 (MGD) of product water, subject to the terms, conditions and arrangements included in
10 the Agreement; and
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12 WHEREAS, the completion of certain events was required by September 28,
13 2006 by the terms and conditions of section 2.3.1 of the Agreement; and
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WHEREAS, if the events described in section 2.3.1 were not completed by
15 September 28, 2006, either party could exercise its right to terminate the Agreement;
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17 WHEREAS, both parties agreed to an extension deadline of November 30, 2006;
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and
19 WHEREAS, both parties desire an additional extension of the deadline
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established in section 2.3.1 of the Agreement to allow the completion of negotiations
21 regarding certain events described in section 2.3.1.
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23 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
24 Carlsbad Municipal Water District, as follows:
25 1. That the above recitations are true and correct.
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2. That the Board of the Carlsbad Municipal Water District hereby authorize
27 the Chairman of the Board to execute the Third Amendment./// •?
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PASSED, APPROVED AND ADOPTED at a Special Meeting of the Board of
Directors of the Carlsbad Municipal Water District of the City of Carlsbad on the 21st
day of, November, 2006, by the following vote:
AYES: Board Members Lewis, Hall, Kulchin, Packard, Sigafoose
NOES: None
ABSENT: None
ATTEST:
LORfeAINE M. WOOD, Secretary'
(SEAL)