Title
Resolution approving Amendment to Extend Term of April 3, 2014, First Revised Water Transmission Service Contract between the Aurora-Colorado Springs Joint Water Authority and the Cities of Aurora and Colorado Springs
Presenter:
M. Patrick Wells, General Manager, Water Resources & Demand Management, Colorado Springs Utilities
Michael Gustafson, Senior Attorney, City Attorney's Office
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities is seeking City Council approval of a resolution approving the Amendment to Extend Term of April 3, 2014, First Revised Water Transmission Service Contract between the Aurora-Colorado Springs Joint Water Authority and the Cities of Aurora and Colorado Springs and authorizing the President of City Council to execute the Amendment.
Background:
The cities of Aurora and Colorado Springs ("Cities") have for many years worked cooperatively in developing water resources to bring water from the Colorado River Basin to the water systems of the Cities through the project commonly known as the Homestake Project. By contract executed May 13, 1983, the Cities established a separate governmental entity and subdivision of the State of Colorado known as the Aurora-Colorado Springs Joint Water Authority ("Authority"). One specific purpose of the Authority was to finance, construct, operate, and maintain a pipeline from the outlet of Twin Lakes Dam to the Otero Pumping Station Intake ("Otero Extension Pipeline") and provide for the transmission of the Cities' Homestake water through the pipeline, pursuant to a Water Transmission Service Contract dated June 1, 1983. The bonds issued for the construction of the Otero Extension Pipeline have been paid off.
The Water Transmission Service Contract expired on December 31, 2013 and on April 3, 2014, the Cities and the Authority entered into a First Revised Water Transmission Service Contract ("Revised Transmission Contract"...
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