HomeMy WebLinkAboutRES 011420-AC - Mercuria 2002 Agrmta
RESOLUTION NO. 0 11LI C-`
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, AUTHORIZING THE MAYOR TO
EXECUTE THE INTERNATIONAL SWAPS AND DERIVIATIVES
ASSOCIATION 2002 MASTER AGREEMENT WITH MERCURIA
ENERGY AMERICA, LLC; REPEALING CONFLICTING
ORDINANCES AND RESOLUTIONS; INCLUDING A
SEVERABILITY CLAUSE; AND ESTABLISHING AN EFFECTIVE
DATE.
WHEREAS, Schneider Engineering as part of their management assessment
presented to City Council on May 9, 2019 recommended that the City enter into
enabling agreements with multiple counterparties to take advantage of opportunities to
better manage purchase power costs;
WHEREAS, the City Council finds that execution of the International Swaps and
Derivatives Association 2002 Master Agreement with Mercuria Energy America is in
the best interest of the City and will provide an opportunity to better manage purchase
power costs.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GEORGETOWN TEXAS:
SECTION 1. The facts and recitations contained in the preamble of this
Resolution are hereby found and declared to be true and correct, and are incorporated
by reference herein and expressly made a part hereof, as if copied verbatim.
SECTION 2. The Mayor is hereby authorized to execute the International Swaps
and Derivatives Association 2002 Master Agreement with Mercuria Energy America
LLC., and other associated documents necessary pursuant to said Agreement.
SECTION 3. The Mayor is authorized to sign this Resolution and the City
Secretary to attest.
SECTION 4. This Resolution shall become effective and be in full force and effect
upon execution by the Mayor.
Resolution No. -Ouq2D— A C.---
Subject: Authorizing Execution of Energy Management Agreement with Shell
Date Approved Zo
Page 1 of 2
PASSED AND APPROVED on the 14110.1- day of r 2020.
ATTEST:
1�"� -
Robyn Densmore, City Secretary
APPROVEP AS TO FORME
Charlie McNabb, City Attorney
CITY OF GEORGETOWN, TEXAS
By: (I J—,A- (��
Dale Ross, Mayor
Resolution No. c— Page 2 of 2
Subject: Authorizing Execution of'Energy Management Agreement with Shell
Date Approved,\ j& �d� %-- yz D