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<br />Section 3. That the city of Paris endorses the CAPP Board committing to a letter of intent <br />to contract for coal capacity with the understanding that: 1) CAPP will provide proof of economic <br />benefIt-of coal capacity and energy from a coal and gas mix in comparison to exclusive reliance on <br />energy priced on 100% gas generation coupled with a conservative forecast of natural gas prices; 2) <br />the City of Paris will have an opportunity to review and approve or reject a 10-year contractual <br />agreement to supply all the city's power needs; and 3) CAPP will issue bonds to secure funding of <br />amounts necessary to prepay the capacity portion of the coal supply contract. <br /> <br />Section 4. That this resolution shall be effective from and after its date of passage. <br /> <br />PASSED AND APPROVED this 12th day of December, 2005. <br /> <br /> <br />C) <br />/ <br />\/ C __x"-1' <br /> <br />ATTEST: <br /> <br />~ <br /> <br /> <br />I <br /> <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />~r; <br />;-Dr "., f~ <br /> <br />-\A <br /> <br />D. Lestock, Assistant City Attorney <br />