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1987-1101810L AN ORDINANCE APPROVING AN AGREEMENT BETWEEN THE CITY OF DENTON AND DENTON COUNTY ELECTRIC COOPERATIVE, INC FOR THE PURCHASE OF ELECTRICAL EQUIPMENT AND FACILITIES, AND PROVIDING FOR AN EFFECTIVE DATE WHEREAS, it is in the best interest of the Cxty of Denton to purchase the electrical equipment and facilities described here- in, and WHEREAS, Section 2 36(f) of the Code of Ordinances requires that the City Council approve all expenditures of more than $10,000, and Section 2 09 of the Charter of the City of Denton, Texas requires that every act of the Council providing for the expenditure of funds or for the contracting for indebtedness shall be by ordinance, NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS SECTION I That the City Council hereby approves and authorizes the Mayor and City Secretary to execute and attest, respectively, the agreement between the City of Denton and Denton County Electric Cooperative, Inc for the purchase of electrical equipment and facilities under the terms and conditions contained in the agreement attached hereto SECTION II That this ordinance shall become effective ~mmedlately upon its passage and approval PASSED AND APPROVED this the/~day of , 1987 ATTEST JE~i[ER WA~TBRS~ CITY SECRETARY CI~f)F DEI~FON, TEXAS APPROVED AS TO LEGAL FORM DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY CITY OF DENTON, TEXAS 1810L THE STATE OF TEXAS § AGREEMENT BETWEhN CITY OF DENTON, TEXAS AND DENTON COUNTY ELECTRIC COUNTY OF DENTON § COOPERATIVh, INC FOR THE PURCHASE Agreement made thls/~g'~day of 0~.~, 1987, between the City of Denton, Texas, a munlclpa~ corporation, ("Buyer"), and Denton County hlectrxc CooperatlYe, Inc , a corporation organized and operating pursuant to the Texas Electric Cooperative Corporation Act (Article 1528b), ("Seller") WHEREAS, Seller presently owns, maintains, and operates electrical equipment and facilities within the City of Denton, Texas, to service and supply customers with electrical service, and WHEREAS, Buyer wishes to purchase the electrical equipment and facilities of Seller described here~n, NOW, THEREFORE, in consideration of the mutual consideration and covenants contained herein, the parties agree as follows 1 In consideration of the sum of Twenty-four Thousand and S~x Hundred Dollars ($24,600 00) paid to Seller by Buyer, receipt of which is hereby acknowledged, Seller does hereby sell, assign and transfer to Buyer all its right, t~tle and interest in the poles, lines, wires, fixtures, and electric facilities listed in Exhibit "A" attached hereto and incorporated herein by reference, said electric facilities being located and ~nstalled in the C~ty of Denton, Denton County, Texas, extending south from Highway 77 along Bonnie Brae Street to University Drive, as shown in Exhibit "B", attached hereto and incorporated herein by reference 2 Seller hereby sells, assigns and transfers to Buyer all its right, interest and title to the r~ght-of-way easements wherein the above-described electric facilities are located and shall hereafter, upon the request of Buyer, execute any necessary assignments, deeds, or documents necessary to convey its interest in sa~d right-of-way easements to Buyer Buyer shall be responsible for the cost of surveys and preparation of documents and recording thereof necessary to effect such conveyance, transfer, or assignment 3 Seller covenants that it is the lawful owner of the electric facilities herein conveyed, that they are free and clear of all encumbrances of any kind, that it has the lawful right and authority to sell and dispose of the same, and that it will warrant and defend title thereto against any claims whatsoever EXECUTED th~s/G~day o£ ~ ~ , 1987 CITY OF DENTON, TEXAS ATTEST JEI~FER/~AL~rERS, CITY SECRETARY CI~OF I~ENTON, TEXAS APPROVED AS TO LEGAL FORM DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY CITY OF DENTON, TEXAS DENTON COUNTY ELECTRIC COOPERATIVE, INC ATTEST SECRETARY PAGE TWO EXHIBIT "A" COST B~ Unit_s ~otal 67 35-6 12,256 31 68 A-I 1,299 78 I A-2 1,333 88 2 A-3 115 03 3 A-4 336 00 3 A-5 173 91 4 A6-1 363 12 9 30-4 1,258 29 4 M26-5 360 16 Idle 2 105-5 141 18 13 K-X4 186 03 4 J-8 41 24 3 MS-10A 89 88 4 K-10 44 16 14 El-/ 664 30 14 Fl-2 585 76 I E2-2 76 26 #6 DP 39 75 #2 TPX 33 64 #4 TPX 142 01 8A CWC 1,000 00 Sub Total 20,539 68 20% Engr and OH 4,107 ?7 24,647 45 Round to 24,600 00 EXHIBIT "B"