1999-134AN ORDINANCE OF THE CITY OF DENTON, TEXAS AUTHORIZING THE CITY
MANAGER TO EXECUTE CONFIDENTIALITY AGREEMENTS BETWEEN THE CITY
AND POTENTIAL BIDDERS OR ACQUIRERS PARTICIPATING IN THE DIVESTITURE
PROCESS RESPECTING THE CITY'S ELECTRIC SYSTEM ASSETS, AND PROVIDING
AN EFFECTIVE DATE
WHEREAS, the C~ty Council, on the advice of legal counsel, deems it necessary and ~n
the pubhc interest to enter mto Confidantlahty Agreements w~th potentml b~dders or acqmrers
participating m the d~vestlture process respecting the C~ty's electric system assets ~n order to
protect sensitive, competitive, proprietary information of Denton Mumc~pal Electric as well as of
all interested b~dders or potentml acqmrers involved ~n the divestiture process, tn order to
maximize the b~d prices to be obtmned by the C~ty for ~ts electric system assets, and
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION I That the C~ty Manager ~s hereby authorized to execute Co~ffidentlahty
Agreements between the C~ty and potentml b~dders or potential acqmrers of the City's electric
system assets ~nvolved m the d~vest~ture process, ~n substantially the form of the Confidentiality
Agreement attached hereto and ~ncorporated herewith by reference, which Confidentmhty
Agreements shall be reviewed by, and approved as to legal form by the C~ty Attorney
SECTION II That this ordinance shall become effecUve ~mmed~ately upon its passage
and approval
JAC~LLER, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY