HomeMy WebLinkAboutResolution - 5724 - Savings-WTMPA Electric Generation Project Used To Accelerate Debt Repayment, Etc - 12/11/1997RESOLUTION NO.5724
Item #45
December 11, 1997 i
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT any savings derived as a result of the West Texas Municipal Power
Agency electric generation project will, to the extent possible, be expended according to
the following priorities.
1) Accelerated repayment of debt associated with the WTMPA electric
generation project. A determination to expend funds in this regard will be
made after an analysis of outstanding bonds and interest rates due to
market fluctuations and economic feasibility.
2) Capital projects which would otherwise qualify for long term debt
issuance.
3) Contingencies related to deregulation and market fluctuations.
Passed by the City Council this 11thday of December , 1997 .
ATTEST:
kaytl�jbarneii, City Secretary
APPROVED AS TO CONTENT:
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Bob Cass, City Manager
APPROVED AS TO FORM:
C
G. Vandiver; First Assistant City Attorney
ddres\ccdocs\WTWA-R.res
December 2, 1997