HomeMy WebLinkAboutElectric Plant Board-Termination of TVA Contract2'68
RESOLUTION
WHEREAS, the City of Paducah has sought, on behalf of
the Electric Plant Board of the City of Paducah (Board),
greater flexibility in terminating its power contract with the
Tennessee Valley Authority; and
WHEREAS, the Tennessee Valley Authority has proposed
a new arrangement whereby the Board may terminate its power
contract with five (5) years notice; and
WHEREAS, the new arrangement adds protection to the
Board by releasing the Board's potential liability for stranded
costs.
NOW, THEREFORE, BE IT RESOLVED by the Board of
Commissioners of the City of Paducah that the City approves of
the 1998 amendment to the Power Contract between the Tennessee
Valley Authority and the Electric Plant Board of the City of
Paducah which allows for a five (5) year cancellation notice
period and releases the Board from potential liability for
stranded costs.
DATED this 27th day of January, 1998.
~'
Albert Jo Mayor
ATTEST:
Lenita Smith, City Clerk
Adopted by the Board of Commissioners January 27, 1998
Recorded by Lenita Smith, City Clerk, January 27, 1998
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