HomeMy WebLinkAbout2007-01-23; Municipal Water District; Resolution 1288EXHIBIT 1
1 RESOLUTION NO. 1288
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A RESOLUTION OF THE BOARD OF DIRECTORS OF CARLSBAD MUNICIPAL
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WATER DISTRICT (CMWD), APPROVING A FOURTH AMENDMENT TO THE
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WATER 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
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WHEREAS, both parties agreed to another extension deadline of January 31,
20 2007; and
21 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
23 regarding certain events described in section 2.3.1.
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NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Carlsbad Municipal Water District, as follows:
1. That the above recitations are true and correct.
2. That the Board of the Carlsbad Municipal Water District hereby authorize
the Chairman of the Board to execute the Fourth Amendment.
PASSED, APPROVED AND ADOPTED at a Special Meeting of the Carlsbad
Municipal Water District of the City of Carlsbad on the 23rd day of January
2007, by the following vote:
AYES: Board Members Lewis, Hall, Packard, Sigafoose
NOES: None
ABSENT: Board Member Kulcbin
, PRESIDENT
ATTEST:
LORRAINE M. WOOD, SECRETARY
(SEAL)
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