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RESOLUTION N0. 2011-011 <br />A RESOLUTION OF THE CITY OF PARIS, TEXAS, AUTHORIZING THE <br />TEXAS COALITION FOR AFFORDABLE POWER (TCAP) TO NEGOTIATE <br />AN EXTENSION TO THE CURRENT ELECTRIC SUPPLY AND NECESSARY <br />RELATED SERVICES AGREEMENT WITH NEXT ERA FOR A FIXED PRICE <br />PER kWh THAT IS LOWER THAN CONTRACT RATES FOR 2011-2013, <br />SAID EXTENSION TO CONTINUE UNTIL DECEMBER 31, 2018; <br />APPROVING TCAP CONTRACTING WITH NEXT ERA AND AUTHORIZING <br />THE CITY MANAGER TO SIGN A CONTRACT WITH TCAP FOR THE CITY'S <br />ELECTRICITY NEEDS FOR THE PERIOD BEGINNING AS SOON AFTER <br />FIIVALIZATION OF A CONTRACT AS POSSIBLE AND EXTENDING UP TO <br />DECEMBER 31, 2018; COMMITTING TO BUDGET FOR ENERGY <br />PURCHASES AND TO HONOR THE CITY'S COMMITMEIVTS TO PURCHASE <br />POWER THROUGH TCAP FOR ITS ELECTRICAL NEEDS THROUGH <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 IVext Era with indicative retail energy prices that will reduce the prices under <br />the current contract for the next three years and extend a fixed price for energy through <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 contracting for TCAP load since 2002 demonstrated that <br />providers demand immediate response to an offer and may penalize delay with higher <br />prices; and, <br />