Laserfiche WebLink
RESOLUTION I I - 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 participation 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 $7,140,953, without the further action of the City. <br />Section 5: The Mayor and City Clerk are hereby authorized and directed to execute <br />the Brookings -Twin Cities Transmission Project Agreement for and on behalf of the City, <br />such execution to be final and conclusive evidence of the City's authorization thereof. <br />Passed and adopted this 14~' day of March, 2011. ~.- ` <br />F <br />~ ~; i~ ~ , <br />John J. Dietz, Mayor <. <br />A ST: <br />~~r <br />• Tina Allard, City Clerk <br />