HomeMy WebLinkAboutReso 2009-046 - Natural Gas
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RESOLUTION NO. 2009 - 46
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
MODIFYING THE AUTHORITY OFTHE ELECTRIC UTILITY DIRECTOR
OR HIS DESIGNEE TO PURCHASE NATURAL GAS COMMODITY TO
INCLUDE FORWARD ELECTRICITY PURCHASES
WHEREAS, the City Council has taken deliberate steps through adoption of a series of
Resolutions giving authority to the Electric Utility Director or his designee to purchase natural gas
and electricity commodities; and
WHEREAS, the existing authority ofthe Electric Utility Director or his designee to purchase
natural gas commodities is limited to $25 million per year and 12 years in length; and
WHEREAS, due to the nature of energy markets, the opportunity to purchase electricity on
a forward basis may result in a reduced, equivalent generation; and
WHEREAS, in order to facilitate procurement of electricity on a forward basis in a timely
manner, REU staff requests the electricity purchase authority of the Electric Utility Director or his
designee be modified to match the natural gas purchase authority in aggregate;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redding that
the Redding Electric Utility Director or his designee will be authorized to purchase natural gas and/or
electricity commodities in a total amount not to exceed $25 million per year and a term not to exceed
12 years.
I HEREBY CERTIFY that the foregoing Resolution was introduced, read, and adopted at
a regular meeting of the City Council on the 5th day of May, 2009, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Dickerson, Jones, McArthur, Stegall, and Bosetti
None
None
None
"l3ci
RICK BOSETTI, Mayor
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FORM APPROVED:
CONNIE'S-TROHMA YE
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RICHARD A. DUVERN , City Attorney
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