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RESOLUTION No. 13-5 <br /> BOARD OF COMMISSIONERS <br /> ELK RIVER MUNICIPAL UTILITIES <br /> A RESOLUTION REQUESTING MEMBERSHIP IN THE MINNESOTA MUNIICPAL <br /> POWER AGENCY, ACCEPTING THE PROVISIONS OF THE AGENCY <br /> AGREEMENT AND BY-LAWS OF THE MINNESOTA MUNICIPAL POWER <br /> AGENCY, APPOINTING A REPRESENTATIVE TO THE AGENCY AND <br /> REQUESTING THE CONCURRENCE OF THE CITY COUNCIL <br /> NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of Elk River <br /> Municipal Utilities: <br /> Section 1. It is hereby found, determined and declared that: <br /> A. The Minnesota Municipal Power Agency (the "Agency") was created and declared <br /> effective by the Minnesota Secretary of State on May 19, 1992, as authorized and <br /> provided in Minnesota Statutes, Chapter 453 (the "Agency Statute") <br /> B. The following Minnesota cities are the present members (the "Members") of the Agency: <br /> Anoka, Arlington, Brownton, Buffalo, Chaska, East Grand Forks, Le Sueur, North St. <br /> Paul, Olivia, Shakopee, and Winthrop, and they each purchase wholesale power, <br /> transmission and other utility services from the Agency. <br /> C. Elk River Municipal Utilities ("ERMU") is authorized by Minnesota Statutes, sections <br /> 412.321 through 421.391 to engage in the local distribution and sale of electric power and <br /> energy. Pursuant to Minnesota Statutes, section 412.361, the Elk River Municipal <br /> Utilities Commission is authorized and empowered by law to regulate rates and charges <br /> for the distribution of electric energy within Elk River Municipal Utilities' territory and <br /> to make arrangements for power and energy supply. <br /> D. The Elk River Municipal Utilities Commission (the "Commission") has determined that <br /> it will need a new source of power supply within the proximate future, did conduct an <br /> investigation and survey of available, alternative power suppliers, and with the aid of <br /> outside experts determined to further examine and to enter into negotiations with the <br /> Agency. <br /> E. The Commission has concluded a course of due diligence examinations upon the history, <br /> plans, financial position, generating and purchase power resources, material agreements <br /> and other relevant matters and has concluded that the Agency is likely to provide a <br /> reliable and reasonably priced supply of power and energy to meet the needs of ERMU. <br />