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DRAFT <br />S:\RESWORK\CURRENT\TCAP Contract RES 2011.docx <br />RESOLUTION N0. <br />A RESOLUTION OF THE CIT PIOWER (TCAP) TO NIEGOTIATE <br />TEXAS COALITION FOR AFFORDABLE <br />AN EXTENSION TO THE CURRENT ELECTRIC SUPPLY AND NECESSARY <br />RELATED SERVICES AGREER HAN CIONTRACT RATESO FOR 20 1 2013, <br />P E R k W h T H A T I S L O W E <br />SAID EXTENSION TO COT NG WITH NEXT ERA AND AUTHORIZING <br />APPROVING TCAP CONTRA <br />THE CITY MANAGER TO SIGN A CONTRACT WITH TCAP FOR THE CITY'S <br />ELECTRICITY NEEDS FOR T CT AS POSSIBLEI AND EXTEND NG UPTTO <br />FINALIZATION OF A CONTRA <br />DECEMBER 31, 2018; COMMITTING TO BUDGET FOR ENERGY <br />PURCHASES AND TO HONOR THE ITSYr CELE TiRI ALE NEEDSO PURCHASE <br />POWER THROUGH TCAP FOR <br />DECEMBER 31, 2018. <br />WHEREAS, the City of Paris, Texas ("City") is a member of Texas Coalition for <br />Affordable Power ("TCAP"), a nonprofit political subdivision corporation dedicated to <br />securing electric power for its 157 political subdivision members in the competitive retail <br />market; and, <br />WHEREAS, TCAP negotiated favorable contract terms and a reasonable commodity <br />price for delivered electricity since 2002 resulting in significant savings for its members; <br />and, <br />WHEREAS, the City's current contract for power with Next Era arranged through <br />TCAP expires December 31, 2013; and, <br />WHEREAS, the TCAP Board of Directors is currently considering a blend and extend <br />contract with Next Era with indicative retail eptend a fix d lpri eufortenergy thro gh <br />the current contract for the next three years <br />December 31, 2018; and, <br />WHEREAS, the current contract is a master agreement between TCAP and Next Era <br />endorsed by contract with individual TCAP members; and, <br />WHEREAS, TCAP must be able to commit contractually to prices in a blend and <br />extend contract amendment within a 24-hour period in order to lock-in favorable prices; <br />and, <br />WHEREAS, experiences in contractingrio offer Aand may pena0lo e de ay w th lzigher <br />providers demand immediate response to a <br />prices; and, <br />146 <br />