1975-050NO 14o 30
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF DENTON RELATING TO
THE TRANSFER AND SALE OF CERTAIN PROPERTIES BELONGING TO THIS CITY
TO THE TEXAS MUNICIPAL POWER AGENCY, DECLARING AN EMERGENCY, AND
RESOLVING OTHER MATTERS IN CONNECTION THEREWITH AND PROVIDING AN
EFFECTIVE DATE
WHEREAS, the Texas Municipal Power Agency ("Agency") has
been heretofore created and established as a municipal corporation,
a political subdivision of the State of Texas, and a body politic
and corporate, and
WHEREAS, such Agency and Brazos Electric Power Cooperative,
Inc ("Brazos") have entered into a participation agreement pursuant
to Article 1435a, V A T S designating Texas Power Pool, Inc as
their agent and project manager, and
WHEREAS, such Agency has expressed a desire and willingness
to purchase, through the aforementioned participation agreement, the
interest of this City in a certain oil terminal and in certain lig-
nite deposits, such lignite interests being evidenced by options to
lease lignite and options to purchase lignite, and
WHEREAS, both the oil terminal and the lignite interests
were originally acquired by the Cities of Bryan, Denton, Garland
and Greenville, Texas, and Brazos as joint projects and all of such
parties have indicated an agreement that the aforesaid Agency and
Brazos may better administer, handle, and own such properties, the
interests of the cities to be allocated to the interest which the
Agency will own pursuant to the participation agreement between the
Agency and Brazos
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF DENTON, TEXAS, THAT
SECTION I
It is hereby found that the interest of the City in the
properties described in the preamble hereof
(a) Could best be utilized and administered through the
Texas Power Pool, Inc acting as agent for the Agency under the
participation agreement between Agency and Brazos, that the use of
such facilities would be a higher public use and a paramount public
purpose since the same are not to be used by this City for the pur-
pose of providing fuel for the electric generating facilities of
the City (insofar as the lignite is concerned) since this City has
determined that the construction of lignite fired generation facil-
ities are not to be constructed by this City but may best be con-
structed by the Agency and Brazos for the benefit of or use by all
of the participants mentioned in the preamble hereof, and could be
accomplished at a savings to the City, but the rights of the City,
under the contract with the Agency, will not be adversely affected,
and
(b) Are to be transferred by the voluntary action of this
City, and
(c) Are to be replaced by property of equal value
SECTION II
At such time as the conveyance of such properties have been
prepared and approved as to form by the City Attorney, the Mayor is
authorized to execute such instruments of conveyance but such con-
veyance shall be delivered to Texas Power Pool, Inc acting in the
aforementioned capacity, when payment is made to this City
SECTION III
That due to the public urgency and necessity of this Ordin-
ance, it shall take effect immediately from and after its passage
PASSED and APPROVED this the 2nd day of December, A D
1975
TO JEST R , YOR
CITY OF DENTO TEX
OF DENTON, TEXAS
APPROVED AS TO LEGAL FORM
PAUL C ISHAM, CITY ATTORNEY
CITY OF DENTON, TEXAS