HomeMy Public PortalAbout003-2011 - Authorizing Saum to enter into BORESOLUTION NO. 3 -2011
A RESOLUTION OF THE BOARD OF DIRECTORS
RICHMOND POWER & LIGHT COMPANY
AUTHORIZING EXECUTION OF REFUSE FUELED
GASIFICATION FACILITY CONSTRUCTION AND
OPERATING AGREEMENT
WHEREAS, the City of Richmond, Indiana owns and operates its own electric utility,
Richmond Power & Light Company (hereinafter "RP &L "), under the supervision and control of
the Board of Directors (hereinafter "Board ") of RP &L, under I.C. 8- 1.5 -3 -4; and
WHEREAS, RP &L, through its employees and representatives, have negotiated a Refuse
Fueled Gasification Facility Construction and Operating Agreement (the "Contract ") pursuant to
which Cate Street Capital, Inc. and Life Cycle Energy LLC will construct and own a refuse
fueled gasification facility (the "Facility ") that will ensure generating turbines currently owned
by RP &L continue producing electricity and providing benefits to Richmond, Indiana; and
WHEREAS, other agreements are contemplated in the Contract, including a ground lease
of RP &L property on which the Facility is situated, a transmission services agreement for use of
RP &L's transmission facilities with which the Facility will be interconnected, an asset purchase
agreement providing for transfer of certain RP &L property a services agreement whereby RP &L
employees will operate the Facility and an interim lease enabling RP &L to continue operating
certain infrastructure during construction of the Facility; and
WHEREAS, the Board has reviewed the Contract and consulted with legal counsel
regarding the Agreement; and
WHEREAS, I.C. 5- 23 -6 -1 grants the Board to authority to approve entry into a public -
private agreement in excess of five (5) years.
NOW, THEREFORE, be it ordained by the Board of Directors of Richmond Power &
Light as follows:
Section 1. The Board hereby approves the Contract, including the proposed term
which is in excess of five (5) years.
Section 2. The Board authorizes Steve Saum, in his role as General Manager of
RP &L, to execute the Contract on behalf of RP &L.
Section 3. The Board further authorizes Steve Saum, in his role as General Manager
of RP &L, to execute other ancillary agreements necessary to effectuate the intention of the
Contract.
Passed and Adopted this _ 1 st day of August, 2011, by the Board of Directors of Richmond Power
& Light.
BOARD OF DIRECTORS OF
RICHMOND POWER & LIGHT
S/S Bruce Wissel
Bruce Wissel, Chairman
RPL Board
S/S J. Clayton
J. Clayton Miller, Vice - Chairman
RPL Board
S/S Jack Elstro
Jack Elstro, Member
S/S Kelley Cruse- Nicholson
Kelley Cruse- Nicholson, Member
S/S Bing Welch
Bing Welch, Member
S/S Larry Parker
Larry Parker, Member
S/S Diana Pappin
Diana Pappin, Member
S/S Phil Quinn
Phil Quinn, Member
S/S Bob Goodwin
Bob Goodwin, Member
Attest:
S/S Karen Chasteen
Karen Chasteen, Recording Secretary
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