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RESOLUTION I I - <br />A RESOLUTION OF THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING PARTICIPATION IN THE BROOKINGS- <br />TWIN CITIES TRANSMISSION PROJECT AND THE FINANCING WITH <br />CMMPA <br />BE IT RESOLVED by the City Council of the City of Elk River, Minnesota (hereinafter <br />referred to as "City"), as follows: <br />Section 1. Through the City's prior approval and execution of the Brookings-Twin <br />Cities Development Project Agreement between the Central Minnesota Municipal Power <br />Agency ("CMMPA") and the City (the "Development Project Agreement"), it was <br />previously determined that it is in the best interests of the City to utilize the resources and <br />services of CMMPA to participate in the development and investment in the acquisition, <br />construction, ownership and operation of high voltage transmission of electrical energy and <br />capacity, negotiation of contracts, planning, including transmission needs studies, <br />transmission arrangements, engineering and technical assistance. <br />Section 2: As contemplated by the terms of the Development Project Agreement, <br />the City now wishes to properly update and supplement its relationship with CMMPA and <br />also authorize the City's paxticipation in the following project: <br />Brookings -Twin Cities Transmission Project. <br />Section 3: The City has received and reviewed a signature ready draft of the <br />Brookings-Twin Cities Transmission Project Agreement dated February 14, 2011 and finds <br />such draft to be acceptable. <br />Section 4: The City Council hereby authorizes participation in the Brookings-Twin <br />Cities Transmission Project and the financing thereof, if any, with CMMPA, with its <br />participation amount related to construction of the Brookings -Twin Cities Transmission <br />Project not to exceed $ ,without the further action of the City. <br />Section 5: The Mayor and are hereby <br />authorized and directed to execute the Brookings -Twin Cities Transmission Project <br />Agreement for and on behalf of the City, such execution to be final and conclusive evidence <br />of the City's authorization thereof. <br />Passed and adopted this 14t" day of March, 2011. <br />ATTEST: <br />John J. Dietz, Mayor <br />Tina Allard, City Clerk <br />