2001-030-RES APPROVING ARTICLES OF INCORPORATION AND BYLAWS OF CITIES AGGREGATION POWER PROJECT INC

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RESOLUTION NO. 2001-030 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING THE ARTICLES OF INCORPORATION AND BYLAWS OF CITIES AGGREGATION POWER PROJECT, INC., A POLillCAL SUBDIVISION CORPORATION; ACCEPTING MEMBERSHIP IN SAID CORPORATION; APPOINTING A REPRESENTATIVE TO SERVE ON BEHALF OF THE CITY OF PARIS; APPROVING PAYMENT OF AN INITIAL MEMBERSHIP FEE; MAKING OTHER FINDINGS RELATED TO THE SUBJECT; AND ESTABLISHING AN EFFECTIVE DATE. WHEREAS, Chapter 303 of the Texas Local Government Code, entitled Energy Aggregation Measures for Local Governments, allows political subdivisions to form a political subdivision corporation to act as an agent to negotiate the purchase of electricity, or to likewise aid or act on behalf of the political subdivisions for which the corporation is created, with respect to their own electricity use for their respective public facilities; and, WHEREAS, Cities Aggregation Power Project, Inc. is a political subdivision corporation organized under said Chapter; and, WHEREAS, the negotiation for electricity by the corporation should result in lower electricity costs to the City of Paris, Paris, Texas; and, WHEREAS, the TXU Cities Steering Committee has participated in numerous rate proceedings and rule-makings over the course of the last decade and, having investigated the impacts of electric deregulation, recommends participation of cities in aggregation projects and creation of a political subdivision corporation to maximize opportunities for cost savings; and, WHEREAS, the TXU Cities Steering Committee has facilitated the creation of Cities Aggregation Power Project, Inc.; and, WHEREAS, the City of Paris seeks to become a member of Cities Aggregation Power Project, Inc.; and, WHEREAS, the Bylaws of Cities Aggregation Power Project, Inc. require an initial membership fee of 1/2 of 1 % of the City of Paris' s total annual electric bill of2000; such fee shall not exceed $14,000.00; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the recitals contained in the preamble to this resolution are determined to be true and correct and are hereby adopted as a part of this resolution.