HomeMy WebLinkAbout1973-068-08/16/1973-APPROVING ON BEHALF OF THE CITY OF FORT COLLINS AN AGREEMENT TO BE EXECUTED BY PLATTE RIVER MUNICIPA RESOLUTION 73-68
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING ON BEHALF OF THE CITY OF FORT COLLINS
AN AGREEMENT TO BE EXECUTED BY PLATTE RIVER
MUNICIPAL POWER ASSOCIATION, INC. , WITH COLORADO-
UTE ELECTRIC ASSOCIATION, INC. , SALT RIVER PROJECT
AGRICULTRUAL IMPROVEMENT AND POWER DISTRICT AND TRI-
STATE GENERATION AND TRANSMISSION ASSOCIATION, INC.
WHEREAS, Platte River Municipal Power Association, Inc. (the
"Association") proposes to enter into an agreement known as the "Yampa
Project Participation Agreement", (the "Agreement") to be dated as of
, 1973, among the Association, Colorado-Ute
Electric Association, Inc. , Salt River Project Agricultural Improvement
and Power District and Tri-State Generation and Transmission Association,
Inc. , providing that the Association shall have a Participation Share
of 18% in the ownership and benefits of the Yampa Project and obligating
the Association to advance funds for the construction of the Yampa Project
(all as defined and described in said proposed Agreement) in proportion
to its Participation Share, and entitling the Association to schedule
generation of power and energy up to its Participation Share of the
available operating capacity and to use the Yampa Transmission System
in proportion to its Participation Share,
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that the City of Fort Collins hereby approves the execution
and delivery by the Association, of the Agreement substantially in the
form of said Agreement presented to this meeting as the same may be
amended, changed or modified with the approval of Counsel for the City;
provided, however, that nothing contained in this resolution nor in the
approval of the execution of the agreement by the Association shall con-
stitute the incurring by the City of any indebtedness or any obligation
for the payment of money, either from its general fund, or otherwise,
and such approval shall not make the City a party to such contract or
liable or responsible in any way for the performance .thereof.
Passed and adopted at a regular meeting of the City Council
held this 16th day of August, 1973.
ATTEST: Mayor
City Cler