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<br />~Action <br /> <br />CITY OF PARIS, TEXAS <br />CITY COUNCIL AGENDA REQUEST <br />MEETING DATE: [ February 26,2007 <br /> <br />~ Discussion Dlnformation DRefer to: <br /> <br />DESCRIPTION: <br /> <br />Authorize City staff to take all necessary steps to accomplish the prepayment of <br />the water purchase contract on Pat Mayse Reservoir. <br /> <br />BACKGROUND INFORMATION: <br /> <br />The City proposes to pay in full for all water rights in Pat Mayse Resevoir. This <br />would include spaces one and two currently being paid for on an installment basis <br />and spaces three, four, and five on which no payments have been made. The cost <br />under the proposal would be $3,635,819.24. <br /> <br />FISCAL AUTHORITY: <br /> <br />BUDGETED: No Account#: 12-0916-82-10 <br />Pat Mayse Reserve and Account #: <br />Bond proceeds. Account #: <br />Other: See attached for recommended funding <br /> <br />LEGAL REVIEW: <br />COMMENTS: <br /> <br />MANAGER'S RECOMMENDATION: <br /> <br />f' '. <br />