HomeMy WebLinkAboutMO # 547MUNICIPAL ORDER NO. 547
A MUNICIPAL ORDER AUTHORIZING THE EXECUTION OF AN
AGREEMENT BETWEEN THE TENNESSEE VALLEY AUTHORITY AND THE
ELECTRIC PLANT BOARD, D/B/A PADUCAH POWER SYSTEM, FOR THE
p IMPLEMENTATION OF A GROWTH CREDIT PROGRAM
WHEREAS, the City of Paducah, Kentucky, (herein-
after called "City"), owns an electric distribution system
which is operated, managed and controlled by the Electric
Plant Board (hereinafter called "Board"); and
WHEREAS, City purchases the entire power
requirements of said system from the Tennessee Valley
Authority (hereinafter called "TVA") pursuant to a wholesale
power contract (hereinafter called the "Power Contract")
dated August 8, 1989; and
WHEREAS, TVA has submitted a proposed amendment to
the Power Contract providing for the implementation by the
.�' parties of a new Growth credit Program and amending the Term
of Contract section of the Power Contract to provide that
the Power Contract will neither expire nor be terminated by
either party upon less than 10 years' prior written notice;
and
WHEREAS, Board and City wish to participate with
TVA in the Growth Credit Program and to enter into said
proposed amendment;
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1.
Said proposed amendment to the Power
Contract between the Tennessee Valley Authority and the
Electric Plant Board, d/b/a Paducah Power System, is hereby
`
�`,
ratified,
confirmed
and approved by the Board of Commis-
sinners of
the City
of Paducah, Kentucky.
303
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304
SECTION 2. This Order shall be in full force and
effect from and after the date of its adoption.
GERRY B. MONTGOMERY
Mayor
Adopted by the Board of Commissioners November 14, 1989
Recorded by Lenita Smith, City Clerk, November 14, 1989
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