HomeMy WebLinkAbout01-73
-4? .
.
.
RESOLUTION NO. .. /..., 'K3
A RESOLUTION authorizing the execution of a
revised net billing agreement relating to
Washington Public ~ower Supply System Nuclear
Project No.3 with the United State 'of America,
Department of the Interior, acting by and
through the Bonneville Power Administrator,
and the Washington Public Power Supply System,
and delivery of said agreement to those
parties.
The City of Port Angeles, Washington (hereinafter
called the "City") is authorized by law to purchase electric
power, to provide for the distribution of electric power to its
customers and to enter into contracts to provide for sources of
additional power supply to meet the prospective power needs of
the City and its electric customers.
The United States of America, Department of the Interior
acting by and through the Bonneville power Administrator (here-
inafter called "Bonneville") and the utilities of the Pacific
Northwest have developed the Ten Year Hydro Thermal Power Program
pursuant to which Bonneville will acquire by net billing from
statutory preference customers in the Northwest generating
capability from non-federally financed thermal generating plants
, to meet the power requirements of Bonneville's preference and
other customers in the region.
Pursuant to said program, the City proposed to execute
with the Washington Public Power Supply System (hereinafter called
the "System") and with Bonneville a contract designated "WPPSS
Nuclear Project No. 3 Net Billing Agreement" in the form and
content as set forth in the draft thereof on file with the City,
Contract No. 14-03-39171,. dated November 27, 1972, with revision
I of Exhibit A, under which the System sells to the City (called
the "participant" in said agreement) a specified share of
I
.c:~
.
.
capability of the nuclear generating plant and associated
facilities identified therein and Bonneville acquires such
capability from the City.
The System proposes to finance, construct, own and
operate said generating plant and facilities associated there-
with, such plants and facilities being referred to in the Net
Billing Agreement as the "Washington Public Power Supply System
Nuclear Project No.3" (hereinafter called the "Project").
In accordance with the Net Billing Agreement, the
System proposes to adopt a "Bond Resolution" at a later date
which provides, among other things, for the.'issuance of Bonds
in series or otherwise, and is entitled:
A RESOLUTION providing a plan and system for
the acquisition and construction by Washington
Public power Supply System of a utility system
consisting of a nuclear generating plant and
associated facilities to be known as the Wash-
ington public Power Supply System Nuclear Pro-
ject No. J; and providing for the issuance of
revenue bonds for said purpose.
A draft of such resolution dated November 29, 1972, is on file
with the City. Prior to the adoption of the above Bond Resolution
the System expects to adopt a Bond Reso~ution providing for the
sale of short-term notes to finance the System's preliminary costs
of acquiring and constructing the Project, which Bond Resolution
will be similar to the note resolutions adopted by the System
for preliminary financing of Washington Public Power Supply System
Nuclear project No. 2 and will be consistent with the above Bond
Resolution and the Net Billing Agreement.
The Council of the City has reviewed the Net Billing
Agreement and the Resolution above referred to and now finds that
entering into the said Net Billing Agreement with the System and
Bonneville is in the best interest of the City, that performance
- 2 -
-
... -
.
.
of the Net Billing Agreement, among other things, will make addi-
tional amount of low.,..cost power and energy available from
Bonneville to meet the prospective powers needs of the City, to
serve residents and customers o;f the City and the future.
The City, the System and Bonneville are parties to an
Exchange Agreement (hereinafter called Hanford Sxchange Agreement
and designated as Contract No. 14-03-3917l, which provides for the
sale by the System of a portion of ~roject Output from the
System's Hanford Project to the City and the exchange of such
Project Output with Bonneville .for firm electric power and energy
to be made available from resources available to Bonneville.
THEREFORE, IT IS RESOLVED:
S'ection 1. The Mayor and Clerk of the City are hereby
authorized and directed, on behalf of the City, to execute with
Bonneville and the Washington ~ublic ~ower Supply System the Net
Billing Agreement above referred to, substantially as set out in
the draft thereof on file with the City, No. 14-03-39171, dated
November 27, 1972, as revised, and to deliver copies thereof to
the other parties to the agreement.
Section 2. lei) The City agrees to the use and employ-
ment of the existing power facilities,as defined in the Bond
Resolution, by the system for the purposes and in the manner
set forth in the Bond Resolution.
(b) The City agrees that the electric power and energy
to be produced by the project, including the electric power and
energy to be produced by the existing power facilities, shall be
disposed of to the parties in the quantities for the period and
under the terms and conditions prescribed in the Net Billing
Agreement and the project Exchange Agreements, both as defined
in the Net Billing Agreement.
.,.. 3 -
,,;f'':
.
.
lel The execution and delivery of said Agreement No.
14-03-29171 does not affect, limit, modify, alter, release or
discharge the Cityrs ri~hts and obligations under the Hanford
Exchange Agreement and the City's rights and obligations under
such Exchange Agreement are hereby reaffirmed.
ADOPTED by the City Council of the City of Port Angeles
this )0~4day of January, 1973.
...:. ~....
,~ ........--.......,. ~
,~~-r-.-.- "'~...._
~p ..~-
.... -- ~- .....
:.~ .~' - ~ ......
--.:. :- ....-
""';'
~..... -"I-
-:....":"~ ~.... .'" ,.....
Attes't: j"'~ ~
. '-"'"':'
.~Vi4~
Mayor
~./i /J0~9/
City Cler
Approved as to form:
?f4 c#~
C~ty Atto
- 4 -