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ORDINANCE NO. <br />ORDINANCE OF THE CITY OF PARIS, TEXAS APPROVING AN <br />ELECTRIC POWER CONTRACT WITH CITIES AGGREGATION <br />POWER PROJECT, INC. ("CAPP") FOR ELECTRIC CAPACITY <br />AND ENERGY, PROVIDING CAPACITY PAYMENTS AS PUBLIC <br />PROPERTY FINANCE CONTRACTUAL OBLIGATIONS OF THE <br />CITY, PLEDGING AND LEVYING AN AD VALOREM TAX TO <br />SUCH PAYMENTS, PROVIDING FOR ENERGY PAYMENTS <br />FOR ELECTRIC ENERGY SUBJECT TO ANNUAL <br />APPROPRIATION BY THE CITY, PROVIDING FOR THE <br />ASSIGNMENT OF SUCH CAPACITY PAYMENTS TO SUPPORT <br />DEBT ISSUED BY CAPP INCURRED TO ACQUIRE ELECTRIC <br />CAPACITY RIGHTS FROM LUMINANT GENERATION <br />COMPANY AND RELATED ENTITIES PURSUANT TO A 24- <br />YEAR POWER PURCHASE AGREEMENT ("PPA"); <br />AUTHORIZING THE CITY MANAGER OR OTHER <br />APPROPRIATE CITY OFFICER OR EMPLOYEE TO EXECUTE <br />AND DELIVER THE MEMBER CONTRACT; FURTHER <br />AUTHORIZING THE CITY MANAGER OR OTHER <br />APPROPRIATE CITY OFFICER OR CITY EMPLOYEE TO SIGN <br />ADDITIONAL AGREEMENTS ARRANGED BY CAPP FOR <br />ELECTRIC POWER NEEDED BY THE CITY IN THE PERIOD <br />2009-2013 IN EXCESS OF THE AMOUNT OBTAINED UNDER <br />THE MEMBER CONTRACT; ACKNOWLEDGING, <br />AUTHORIZING AND DIRECTING THE CITY MANAGER OR <br />APPROPRIATE CITY OFFICER OR CITY EMPLOYEE TO SIGN <br />AND RETURN CAPP'S DISCLOSURE LETTER; FURTHER <br />AUTHORIZING THE CITY MANAGER OR APPROPRIATE CITY <br />OFFICER OR OTHER CITY EMPLOYEE TO ACCEPT <br />CONFORMING CHANGES TO THE MEMBER CONTRACT <br />DEPENDENT ON THE FINAL TERMS OF THE CAPP PPA; <br />PROVIDING FOR VALIDITY AND SUFFICIENCY OF CITY <br />EMPLOYEE'S OR CITY OFFICER'S SIGNATURE IF THE <br />OFFICER OR EMPLOYEE LEAVES OFFICE OR EMPLOYMENT <br />PRIOR TO THE DELIVERY OF THE MEMBER CONTRACT; <br />ADOPTING A SAVINGS CLAUSE; DETERMINING THAT THIS <br />ORDINANCE WAS PASSED IN ACCORDANCE WITH THE <br />REQUIREMENTS OF THE TEXAS OPEN MEETINGS ACT. <br />WHEREAS, the City of Paris must purchase electricity in order to perform its <br />proprietary and governmental functions; and <br />WHEREAS, the price of power sold in the deregulated retail market in Texas has <br />been directly linked to the daily fluctuations for natural gas futures prices, regardless of <br />the type of generation fuel; and <br />w Ui)U0-1, <br />