HomeMy WebLinkAbout880856.tiff RESOLUTION
RE: APPROVE AGREEMENT WITH LAWRENCE H. HERTZKE AND AUTHORIZE
CHAIRMAN TO SIGN
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with an Agreement with
Lawrence H. Hertzke regarding the purchase of three and one-half
shares of capital stock of the Greeley and Loveland Irrigation
Company, and
WHEREAS, the terms and conditions are as stated in said
Agreement, and
WHEREAS, after review, the Board deems it advisable to
approve said Agreement, a copy being attached hereto and
incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the Agreement with
Lawrence H. Hertzke be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign said Agreement.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 24th day of
August, A.D. , 1988 .
y BOARD OF COUNTY COMMISSIONERS
ATTEST: T� WELD UNTY, COLORADO
Weld County erk and Recorder /'
and Clerk to the Board eneyR. Brantner, Chairman illt C.W. , Pr Tem
eputy County C erk
.fie\...• \• ►�►Snj
APPROVED AS TO FORM: ac.uel n-on
(::::-_____AL 7
County Attorney c
Frank mag:chi
- 880856
AGREEMENT
COMES NOW the Seller, Lawrence H. Hertzke, 4925 West 4th
Street, Greeley, Colorado 80634 , (hereinafter "Seller") , and the
Board of County Commissioners of Weld County, Colorado, 915 Tenth
Street, Greeley, Colorado 80631 , (hereinafter "Buyer") , agree as
follows:
1 . That the Seller agrees to sell to Buyer three and
one-half (3i ) shares of capital stock (hereinafter "shares" ) of
the Greeley and Loveland Irrigation Company (hereinafter
"Company") at Seven Hundred Sixty-Seven Dollars and Fifty Cents
($767 .50) per acre foot calculated at thirty-three (33) acre feet
per share free and clear of all encumbrances.
2 . Seller agrees to deliver said shares by executing a slip
assignment which transfers , free and clear of all encumbrances ,
the shares to the City of Greeley, Colorado, for the benefit of
Buyer.
3 . Buyer agrees to pay the sum of Ten Thousand Dollars
($10 , 000 .00) upon the receipt of the executed slip assignment from
the Seller and pay the remaining amount due of Seventy-Eight
Thousand Six Hundred Forty-Six Dollars and Twenty-Five Cents
($78 ,646 .25) upon confirmation from the Greeley and Loveland
Irrigation Company (hereinafter "Company" ) that the assignment of
the shares has been effectuated on the books of the Company.
4 . The date of transfer, as shown on the books of the
Company, shall be considered the date of closing between the
Parties .
5 . Buyer agrees to pay to the Company any transfer fee
associated with the transfer.
6 . This Agreement constitutes the entire understanding of
the parties.
DONE AND DATED THIS 24th day of August, 1988.
SELLER: /
✓� t1OLe��Ce( � L
L rence H. Hertzke
SUBSCRIBED AND SWORN to before me this ,2 D- day of August,
1988 , by Lawrence H. Hertzke.
WITNESS my hand and official seal. (-
/
to
/ Notary Publ
My commission expires: cilit9
Page 1 of 2 Pages
880856
BUYER:
ATTEST: sfijaerk M�L�i„ ) BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Weld County C and Recorder
and Clerk to the ard �
a BY: _�/LL�
By: ene R. Br ntner, Chairman
De� ounty IV
Page 2 of 2 Pages 880856
Greeley, Colo., August 22 . 19 88
hor value received Z hereby sell, ensign and transfer unto Board of County Commissioners
,.,qf Wad, County, Colorado
all my right, title and Interest in and to three and one-half
ghares of the capital stock of
The c ee1ey..tc.lpyeland jr.Ligation Company as evidenced by certificate
No. 2682 of said company. And do hereby authorize and empower
the secretary of said company to cancel said cmtifleale and Issue a new certificate, or cmtlf�es, to
elfecurate this (taunter on the books of the company,_ ---
In pre.^.e ice y of: 4y�2`,ne-c. R'V
Law ence Hertzke
/�qqpa /�q �� H.
880856
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x,668 Shares of the Value of $roo Each ��
{e�� Capital Stock, $r66,800 c�u�a
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r;`-i:hiet.! Jfrie �enti�l¢e that INTRAWEST BANK OF GREIIEY, N. A. , Pledgee; LAWRENCE H. III I3TZRE, Pledgor y
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+ i ` �,`,ul , ,�_L_Ci. rv-1.. -9 President.
Ai Secretary. t
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1000 Tenth Street
Greeley, Colorado 80631
Telephone: (303)356-1000
United Bank
NNO of Greeley
August 23, 1988
Lawrence -£lertzke
4902 West 12 Street
Greeley, CO 80634
Dear Lawrence,
We are writing this letter to inform you that United Bank of Greeley, N.A.
has agreed to release to you 31 shares of Greeley Loveland water stock in and
for consideration of $60,000.00.
If you should have any further questions regarding this matter please feel
free to contact me.
Your truly,
Max Ellis
Vice President
sS0S56
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