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<br />I <br /> <br />I <br /> <br />I <br /> <br />RESOLUTION 2007 - 50 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS APPROVING THE TERMS AND CONDISTIONS FOR <br />THE PURCHASE OF DIAMOND PURE WATER COMPANY; <br />AUTHORIZING THE CITY MANAGER TO EXECUTE THE PURCHASE <br />AGREEMENT ON BEHALF OF THE CITY; AND DECLARING AN <br />EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. Diamond Pure Water Company is a small company servicing residents <br />located west of Hunter Road at the end of Quail Run Drive. The Diamond Pure assets <br />include permitted water rights from the Edward's Aquifer and a CCN that covers both <br />developed and undeveloped property. <br /> <br />2. The City will benefit from the expanded customer base and the additional <br />CCN area. The Diamond Pure customers will benefit by having an additional source of <br />water supply, improved service conditions and larger utility service and resources. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. The terms and conditions of the attached Agreement to Purchase <br />Diamond Pure Water Company, including water rights and real property, are approved. <br /> <br />PART 2. The City Manager, Dan O'Leary, is authorized to execute the <br />agreement on behalf of the City. <br /> <br />PART 3. This Resolution shall be in full force and effect immediately from and <br />after its passage. <br /> <br />ADOPTED this 20th day of March 2007. <br /> <br />~ <br /> <br /> <br />Susan Narvaiz <br />Mayor <br /> <br />" <br /> <br /> <br />(- <br /> <br />, t'C1; <br />