HomeMy WebLinkAboutCity Council Resolutions (R-03-2236)-10/07/2003
RESOLUTION R-03-2236
A RESOLUTION OF THE CITY OF COLLEYVILLE, TEXAS, AUTHORIZING
THE MAYOR TO EXECUTE AN ELECTRIC SUPPLY AGREEMENT
PURSUANT TO THE CONTRACT TO BE SIGNED BY CITIES AGGREGATION
POWER PROJECT, INC. FOR DELIVERIES OF ELECTRICITY EFFECTIVE
JANUARY 1, 2004
WHEREAS, the City of Colleyville, Texas (City) is a member of Cities Aggregation
Power Project, Inc. (CAPP), a nonprofit political subdivision corporation
dedicated to securing electric power for its more than 80 members in the
competitive retail market; and
WHEREAS, CAPP negotiated favorable contract terms and a reasonable commodity
price for delivered electricity in 2002 and 2003 for its members; and
WHEREAS, CAPP anticipates preserving current contract terms and achieving
commodity prices in a contract for a 12 to 24 month period effective
January 1, 2004 that continue to produce savings over the regulated
"Price To Beat" rates; and
WHEREAS, CAPP believes that the pricing opportunity window for favorable 2004-
2005 deliveries will be short-lived and that CAPP members must be able
to commit contractually to prices within a 24-hour period in order to lock-in
favorable prices; and
WHEREAS, experiences in contracting for 2002-2003 demonstrated that Retail Electric
Providers demand immediate response to an offer and may penalize delay
with higher prices; and
WHEREAS, the City benefits from jointly shared experience and collective purchasing
power through CAPP; and
WHEREAS, it is necessary for the City to contract for a supply of electricity for 2004 or
at least partially revert to "Price To Beat" rates.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT the Mayor is hereby authorized to sign an electric power agreement
pursuant to the contract approved and recommended by the CAPP Board
of Directors within 24 hours of said approval and recommendation. The
contract may be for a 12 to 24 month time frame.
Resolution R-03-2236
Page 2 of 2
Sec. 2.
THAT a copy of the resolution shall be sent to Mary Bunkley with the City
Attorney's office in Arlington and Geoffrey M. Gay, legal counsel to CAPP,
on or before October 8, 2003.
AND IT IS SO RESOLVED.
PASSED BY A VOTE OF S AYE~YS AND
THISTHE 7'H, DAYOF D_ 2003.
D ABSTENTIONS ON
ATTEST:
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CITY OF COLLEYVILLE:
Cynthia Singleton, TRMC
City Secretary
Joe Hocutt
Mayor