HomeMy WebLinkAbout0043_4242
consultant from a list of three established management consulting firms selected by the
Advisory Committee. The Advisory Committee shall participate and have equal voice in
defining the scope, extent, and nature of the review and analysis to be conducted.
5. That the Authority agree to obtain and deliver to each wholesale power customer
a special report to be prepared by its financial consultant, First Southwest Company, eval-
uating the effect and present status of the financial plan adopted concurrently with the
execution of the Wholesale Power Agreements. Said report is to be completed and delivered
on or before July 1, 1976.
6. That the Authority agree to deliver on or before February 1, 1976, to each
wholesale power customer a copy of the Indenture Report dated September 1, 1975 as
prepared by Commonwealth Associates, Inc., which contains details concerning the phy-
sical inspection and condition of the Authority's properties, the results and costs of
operation and maintenance for the three years ended June 30, 1975, and a forecast of
estimated results and costs of operation and maintenance for the three year ended
June 30, 1978.
7. That the Authority agree to obtain and deliver on or before February 1, 1976,
to each wholesale power customer, a special report to be prepared by the independent
accounting firm of Arthur Young & Co., wherein the Authority's compliance with its
various trust indentures and bond resolution and the terms of the act under which it was
created, including all amendments thereto, are discussed on the basis of all information
said firm of accountants has obtained or confirmed independently of the records of the
Authority through and in connection with its fiscal year ended June 30, 1975.
8. That the Authority agree to fully cooperate in and provide any and all additional
information required for an independently conducted fiscal review and analysis of the
Authority. This fiscal review and analysis of the Authority is to be conducted by an
independent consultant to be employed by the wholesale power customers. Its purpose
is to review and analyse the information provided by the Authority under paragraphs
5, 6 $ 7 above, to update such information to December 31, 1975, to inquire into the
basis and source of such information, and to develop such additional information deemed
necessary by the consultant to evaluate the performance of the Authority with a view
to the interests of the wholesale power customers of the Authority. The Advisory Committee
is hereby authorized to employ an independent consultant to conduct the review and
analysis. Upon completion of the independent review and analysis, the Authority Shall
cause its staff to meet with members of the Advisory Committee to discuss any and all
matters covered by the consultant's report. The consultant shall report to and be paid
by the wholesale power customers.
9. Acceptance by the Authority of payment calculated in accordance with this
resolution shall constitute acceptance by the Authority of all terms and conditions hereof.
CERTIFICATE
I, the undersigned, the duly elected, qualified and acting Mayor of the City of
Georgetown do hereby certify that I have compared the above copy of resolution with
the original of such resolution on file in my office and that the same is a true and correct
copy of such resolution which was regularly adopted at a meeting of the City Council,
duly held on the 12th day of January, 1976, and said resolution is in full force and effect.
Dated this 12 th day of January 1976.
ATTEST:
City Secretary
D. W. Scott, Mayor