HomeMy WebLinkAbout7975RESOLUTION NO. 7975
A RESOLUTION APPROVING AN AGREEMENT BETWEEN
THE CITY OF PUEBLO AND THE BOARD OF WATER WORKS
OF PUEBLO, COLORADO RELATING TO THE HISTORIC
ARKANSAS RIVERWALK PROJECT AND AUTHORIZING THE
PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Agreement between the City of Pueblo and the Board of Water Works of Pueblo,
Colorado, relating to the Historic Arkansas Riverwalk Project, a copy of which is attached hereto
and incorporated herein, having been approved as to form by the City Attorney, is hereby approved
and the President of the City Council is authorized to execute the same in the name of the City.
INTRODUCED: October 15, 1996
ATTEST:
By Al Gurul e
Councilperson
APPROVED:
0 y ea. 4
City Cler Presi nt of the City Louncil
HARP INSURANCE AGREEMENT
This Agreement is entered into as of the 15th day of September, 1996, by and
between the City of Pueblo (the "City "), a home rule municipality established under Article
XX of the Colorado Constitution, and the Board of Water Works of Pueblo, Colorado (the
"Board "), an independent body established by the charter of the City of Pueblo.
A. There is soon to be under construction within the City the Historic Arkansas
Riverwalk Project (the "HARP Project ") consisting of a renovation of the historical channel
of the Arkansas River in downtown Pueblo as a public park and amenity.
B. The City is providing the principal financing for and supervision of the
construction of the HARP Project. The Board will provide the water supply for the HARP
Project with its water rights and the water rights currently used by the WestPlains Energy
Company ( "WestPlains Energy ").
C. The Board has entered into a Lease Agreement with WestPlains Energy dated
September 9, 1996, (the "WestPlains Lease ") to permit the use of the WestPlains Water
Facilities in connection with the HARP Project. The HARP Project will include construction
of facilities on the property leased by the Board from WestPlains, including Lake Elizabeth,
a principal amenity of the HARP Project.
D. The WestPlains Lease requires that the Tenant maintain five million dollars
($5,000,000.00) of public liability and property damage insurance on the leased Premises
and that WestPlains Energy be named as a co- insured under any such policy of insurance.
The WestPlains Lease permits the Tenant's insurance coverage to be provided by the City.
E. Subject to approval of its insurance underwriters and, in its capacity as the
builder and owner of the HARP Project, the City shall provide the insurance coverage
required of Tenant by paragraphs 3.2.1 and 3.2.2 of Article III of the WestPlains Lease and
shall name the Board as an additional insured.
In consideration of the foregoing recitals and the actions of the Board and the City
to promote and implement the HARP Project, the Board and the City agree as follows:
(1) The City shall provide the Tenant's insurance coverage in accordance
with paragraph 3.2.1 of Article III and, after completion of construction
of the HARP Project, provide the Tenant's insurance coverage in
accordance with paragraph 3.2.2 of Article III of the WestPlains Lease.
During the course of construction, the City shall require its contractors
to carry builder's risk (contractor's and owner's property protection)
insurance.
(2) The Board hereby grants to the City, its officers, agents, contractors,
and employees the right to use and occupy Lake Elizabeth and lands
south thereof, comprising a portion of the Premises described in the
WestPlains Lease, in conjunction with the HARP Project. The City's
use of the Premises may include, without limitation, the construction
of the HARP Project.
The Board and the City further acknowledge and agree that this Agreement is but one
of a number of agreements that must be reached between the City, the Board, and other
entities regarding the operation of the HARP Project. Accordingly, this Agreement may be
mcor per ated Into or r tpiaccd by a more cornpreherisive agreement b etween the Board, the
City, and other appropriate entities concerning the HARP Project.
By their signatures on this Agreement, the undersigned warrant and represent that
they have received all necessary authorizations and have the full power and lawful authority
to enter into this Agreement and to make it binding upon the City and the Board
respectively. This Agreement shall be binding upon and shall inure to the benefit of the
successors and assigns of the City and of the Board.
lq�� le
Presid nt of City Council, City of Pueblo
Alan C. Hamel, Executive Director
Board of Water Works of Pueblo
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