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5.4. ERMUSR 05-14-2013
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5.4. ERMUSR 05-14-2013
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5/30/2013 10:45:15 AM
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City Government
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ERMUSR
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5/14/2013
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(6 ) The provided termination in Sections 9 (L) an 9 ( M) f this Agency <br /> of this Agency <br /> -. ) Agreement, as p <br /> Agreement. <br /> • <br /> ( 7) The adoption and amendment of the Bylaws, as provided in <br /> Section 9 (L) of this Agency Agreement. <br /> provided The compensation of Directors , as <br /> Agreement. <br /> Each of the matters set forth above shall require the <br /> approval of the majority of the votes cast by the Representatives <br /> in accordance with the weighted voting formula described in <br /> Section 9 (C) hereof , except as to th 5e matters for greater percentageh tr <br /> tot <br /> provisions of this Agency Agreement qu i <br /> or which specify that in substitution thereof or in addition <br /> thereto, such matters shall be decided by the Representatives each <br /> casting one vote. <br /> The Board of Directors and the Representatives shall take any <br /> and all action which may be required under any contract or <br /> agreement to which the Municipal Power Agency is bound , including <br /> any bond resolution, trust indenture or similar financing <br /> agreement; but nothing contained in this section shall be <br /> construed to mean that any Member or Representative is liable for <br /> • any of the obligations of the Municipal Power Agency . <br /> (C) Votin . Except as otherwise expressly povided in this <br /> Agency Agreement, each action at any meeting of the <br /> Representativ es <br /> the Representatives majority resent, each votes on <br /> exercising a <br /> nue Qu <br /> allocated ae"weighted vote") : <br /> represents as <br /> (1) one vote; plus <br /> hours <br /> ( 2) one additional the Agency by them Membert during <br /> of electric energy purchased <br /> such Member ' s most recent fiscal year; plus <br /> ( 3) if the votes allocated to any Member pursuant to clauses <br /> (1 ) , and ( 2) would equal or exceed the total number of votes <br /> allocated to all other Members, its allocation of votes shall be <br /> reduced to one vote less than those allocated to all other <br /> Members. <br /> The allocation of votes to each member shall be made in <br /> accordance with the formula outlined above as soon as practicable <br /> after by the Secretary each Power Agency based shall <br /> made fi Representative of the Member , and <br /> certificate of the Commission or Rep <br /> C such allocation shall be verified by the Board of Directors . Each <br /> such allocation shall remain effective until such time as a new 8 <br />
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