The URL can be used to link to this page

Home My Public Portal About055-2002 - Authorizes First Amendment to the Agreement for Power Sales betwen IMPA and the COR ORDINANCE NO. 55 - 2002 AN ORDINANCE OF THE CITY OF RICHMOND, AUTHORIZING THE EXECUTION AND DELIVERY OF THE FIRST AMENDATORY AGREEMENT TO THE POWER SALES CONTRACT BETWEEN INDIANA MUNICIPAL POWER AGENCY AND THE CITY OF RICHMOND WHEREAS, The City of Richmond (hereinafter referred to as “Member”) is a municipal corporation created and existing under the laws of the State of Indiana and as an entity d/b/a Richmond Power & Light is a member in good standing of the Indiana Municipal Power Agency (hereinafter referred to as “Agency”), a body corporate subdivision of the State of Indiana, created pursuant to I.C. 8-1-2.2 and exercising there under a part of the sovereign posers of the State of Indiana; and WHEREAS, the Member owns and operates a municipal electric system which furnishes retail electric service to the public; and WHEREAS, the Member is required by law to provide customers with an adequate, reliable and economical supply of electric power and energy; and WHEREAS, the Agency and the Member entered into a Power Sales Contract dated April 1, 1982 by which the agency agreed to sell and deliver to the Member, and the Member agreed to purchase and receive from the Agency all electric power and energy which the Member required for the operation of its municipal electric system; provided, however, Section 3(a) of the Power Sales Contract provides in pertinent part that after December 31, 2002, the maximum amount of power required to be sold and delivered by the Agency and purchased and received by the Member, shall not exceed the “Contract Rate of Delivery”, which shall be the peak demand of the Member for power and energy under the Power Sales contract during the 60 billing periods preceding December 31, 2002, as determined by the Agency, adjusted up or down by not more than 10% so as to provide optimal utilization of the Agency’s power supply resources, such adjustments to me made by the Agency upon the advice of the consulting engineer to the Agency; and WHEREAS, the Agency has periodically advised the Member of its estimated “Contract Rate of Delivery” and the Member desires at this time to continue purchasing and receiving from the Agency, all electric power and energy required for the operation of its municipal electric system, including that necessary to serve load growth; and WHEREAS, the Agency is willing to plan for and invest in power supply resources necessary to sell and deliver all electric power and energy required for the operation of the Member’s municipal electric system, including that necessary to serve the Member’s load growth; and WHEREAS, the Agency has caused to be prepared the “First Amendatory Agreement to Power Sales Contract Between Indiana Municipal Power Agency and the City of Richmond” (hereinafter referred to as “Amendment”) for execution by and between the Agency and the Member and representatives of the Member have reviewed such Amendment; and WHEREAS, the Amendment accurately reflects the intentions of the Agency and the Member that the Agency continue to sell and deliver to the Member, and the Member continue to purchase and receive from the Agency, all electric power and energy which the Member requires for the operation of its municipal electric system, including that necessary to serve load growth during the time frame set forth within the Amendment; and WHEREAS, by Resolution dated June 17, 2002, the Board of Directors for Richmond Power & Light has recommended the adoption of the Amendment; and WHEREAS, the Amendment marked as Exhibit “A” is attached hereto, incorporated herein by reference and a copy of said Amendment is on file in the Office of the City Clerk for pubic inspection pursuant to Indiana law; and WHEREAS, based upon the foregoing facts, the Member by this Ordinance hereby finds and determines to approve the Amendment. NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, as follows: 1. The Member is authorized pursuant to this Ordinance to enter into the Amendment in the form attached hereto as Exhibit “A” so that the Member may continue purchasing and receiving from the Agency, all electric power and energy required for the operation of its municipal electric system, including that required for load growth, during the time frame set forth within the Amendment, thereby ensuring the Member’s ability to continue providing its customers with an adequate, reliable and economical supply of electric power and energy. 2. The findings and determinations set forth in the preambles to this Ordinance are hereby made findings and determinations of the City of Richmond. 3. By this Ordinance, David Osburn, as General Manager of RP&L, and the Mayor are hereby authorized and directed to execute and deliver, and the Clerk is hereby authorized to attest and seal, the Amendment. 4. This Ordinance shall be in full force and effect from and after its passage. Passed and adopted this 1st day of July, 2002, by the Common Council of the City of Richmond, Indiana. s/s Bruce Wissel, President (Bruce Wissel) Attest: s/s Norma Schroeder, City Clerk (Norma Schroeder) PRESENTED to the Mayor of the City of Richmond, Indiana, this 2nd day of July, 2002, at 9:00 a.m. s/s Norma Schroeder, City Clerk (Norma Schroeder) APPROVED by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this 2nd day of Julyh, 2002 , at 9:05 a.m. s/s Shelley D. Miller, Mayor (Shelley D. Miller) ATTEST: s/s Norma Schroeder, City Clerk (Norma Schroeder)