HomeMy WebLinkAboutResolution - 4880 - Created LP&L Review Committee - Evaluation Of RMI Inc Study - 06_22_1995Resolution No. 4880
June 22, 1995
Item #26
RESOLUTION
WHEREAS, RMI, Inc. was retained by the City of Lubbock to study the future of
Lubbock Power & Light; and
WHEREAS, RMI, Inc. delivered its report to the City Council on June 8, 1995; and
WHEREAS, the City Council deems it to be in the best interest of the City to appoint a
citizens committee to review the report of RMI, Inc. and to return detailed recommendations to
the City Council on the future of LP&L; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT there is hereby created a committee to be known as the LP&L
Review Committee; and
SECTION 2. (a) THAT such committee shall consist of nine (9) members composed
of members of the general public; and
(b) THAT the primary function of said committee will be to gather and present
all information for Council to make an informed decision as to future ownership of
LP&L.
SECTION 3. THAT such committee shall undertake the following:
(a) an evaluation of the assumptions of the RMI, Inc. study;
(b) investigate the current state of the electric utility industry in its effects on LP&L;
(c) a risk benefits analysis of continued ownership of LP&L; and
(d) a recommendation as to the disposition of sale proceeds in the event that a
decision is made to sell the utility.
SECTION 4. THAT each committee member shall disclose any relationship that said
committee member may have with another utility operating within the City limits of the City of
Lubbock including whether such committee member is an officer, an employee or a shareholder
of such utility.
Passed by the City Council this
ATTEST:
&t�— ' Ac�e �)
Betty M. Johnson, &y Secretary
APPROVED AS TO CONTENT:
'Robert Massengale, Director oPElectric Utilities
APPROVED AS TO FORM:
C. Ross, Jr., City Attorney
JCR:da
ccdocs/rtni-Ip&Lres
June 22, 1995
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Resolution No.
June 22, 1995
Q5 Item #26
RESOLUTION
WHEREAS, RMI, Inc. was retained by the City of Lubbock to study the future of
Lubbock Power & Light; and
WHEREAS, RMI, Inc. delivered its report to the City Council on June 8, 1995; and
WHEREAS, the City Council deems it to be in the best interest of the City to appoint a
citizens committee to review the report of RMI, Inc. and to return detailed recommendations to
the City Council on the future of LP&L; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT there is hereby created a committee to be known as the LP&L
Review Committee; and
SECTION 2. (a) THAT such committee shall consist of nine (9) members composed
of members of the general
public; and
(b) THAT the primary function of said committee will be to gather and present
all information for Council to make an informed decision as to future ownership of
LP&L.
SECTION 3. THAT such committee shall undertake the following:
(a) an evaluation of the assumptions of the RMI, Inc. study;
(b) investigate the current state of the electric utility industry in its effects on LP&L;
(c) a risk benefits analysis of continued ownership of LP&L; and
(d) a recommendation as to the disposition of sale proceeds in the event that a
decision is made to sell the utility.
SECTION 4. THAT each committee member shall disclose any relationship that said
committee member may have with another utility operating within the City limits of the City of
Lubbock including whether such committee member is an officer, an employee or a shareholder
of such utility.
i
Passed by the City Council this 22nd day of June , 1995.
DAVID R. LANGSTON, MAYOR
ATTEST:
Betty M. Johnson, City Secretary
APPROVED AS TO CONTENT:
J. Robert Massengale, Director of Electric Utilities
APPROVED AS TO FORM:
C. Ross, Jr., City Attorney
JCR:da
ccdocs/rmi-lp&I.res
June 15, 1995
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