HomeMy WebLinkAboutResolution - 2003-R0214 - Joint Gas Purchase Contract - Texas Municipal Gas Corporation - 05_22_2003Resolution No. 2003-RO214
May 22, 2003
Item No. 64
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to
execute for and on behalf of the City of Lubbock a waiver of Section 16.03 of the Joint Gas
Purchase Contract dated as of April 1, 1998 by and between the City of Lubbock, Texas, Texas
Municipal Gas Corporation and the City of LaGrange, Texas. Said waiver is attached hereto and
incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of
the Council.
Passed by the City Council this 22nd day
ATTEST:
1
Reb cca Garza, City Secretary
APPROVED AS TO CONTENT:
t
Carroll McDdnald
Chief Executive Officer
Department of Electric Utilities
City of Lubbock
APPROVED AS TO FORM:
C-��44Z'
L.-Wade
City Attorney
ccdocs\Contract notice waiver 2003.RES
Resolution No. 2003-RO214
P.O. Box 2000
1625 13'b Street
Lubbock, Texas 79457
April 29, 2003
Texas Municipal Gas Corporation
Three Riverway, Suite 1375
Houston, Texas 77056
Attention: Robert D. Murphy, Jr., Executive Director
Ladies and Gentlemen:
We hereby waive compliance with any obligation on your part to give us at least 75 days notice
pursuant to Section 16.03 of the Joint Gas Purchase Contract dated as of April 1, 1998, between
Texas Municipal Gas Corporation and other Texas municipalities, of the issuance prior to July 1,
2003, of up to $550 million aggregate principal amount of bonds to finance the acquisition or
development of mineral interests. We acknowledge that by waiving any obligation on your part
to give us 75 days notice of the bond issue, we will remain obligated, but only up to our gas
requirements, to purchase gas produced from mineral interests acquired or developed with
proceeds of the bonds (as and to the extent and on the conditions described in the Joint Gas
Purchase Contract and our Purchaser Addendum to the contract), unless we give you notice to
phase out of our purchase commitment at least 45 days before the bonds are issued.
Very truly yours,
to
Dated:
Name: Marc McDougal
Title: Mayor, City of Lubbock
MATT:sh Cityatt/Maf n MGC waiver
April 29, 2003