Loading...
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 -2-