RES 11-45RESOLUTION 11- 45
ARESOLUTION OF THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING AN AGREEMENT TO TRANSFER ELECTION
SHARE IN THE BROOKING-TWIN CITIES TRANSMISSION PROJECT FROM THE
CITY OF DELANO
BE IT RESOLVED by the City Council of the City of Elk River, Minnesota (hereinafter
referred to as "City"), as follows:
Section 1: It was previously determined that it was in the best interest of Elk River
Municipal Utilities and the City to participate in the Brookings-Twin Cities Transmission Project
and the City previously approved participation in the Brookings-Twin Cities Transmission
Project through the Central Minnesota Municipal Power Agency with a participation amount not
to exceed $7,140,953 without further action of the City.
Section 2: An opportunity has arisen to acquire an additional participation interest
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(election share) in the Brookings-Twin Cities Transmission Project from the City of Delano,
which has decided not to participate in the Brookings-Twin Cities Transmission Project.
Pursuant to the terms of an Agreement to Transfer Election Share, the parties to said Agreement,
being the City of Delano, the Central Minnesota Municipal Power Agency and five (5) other
cities already participating in the Brookings-Twin Cities Transmission Project, Delano will
assign its participation interest (election share) to six (6) cities, including the City of Elk River,
who are already participating in the Project.
Section 3: The additional cost to acquire a portion of the City of Delano's election share,
when aggregated with the amount already approved by the City for participation in the
Brookings-Twin Cities Project, does not exceed the total amount authorized in the previous
resolution.
Section 4: The City does hereby approve the Agreement to Transfer Election Share to be
entered into with the Central Minnesota Municipal Power Agency, the City of Delano and five
(5) other cities already participating in the Brookings-Twin Cities Transmission Project.
Section 5: The additional expenditure necessary to acquire a portion of the City of
Delano's participation share in the Brookings-Twin Cities Transmission Project is hereby
authorized.
Section 6: The Agreement to Transfer Election Share is hereby approved in the form
presented at this meeting. The Mayor and City Clerk are hereby authorized and directed to
execute such Agreement to Transfer Election Share for and on behalf
of the City, the same to be exclusively evidenced by such execution.
Adopted this 1St day of August, 2011.
J J. ietz, or
ATTEST~~
Tina Allard, City Clerk