HomeMy WebLinkAboutRES 1987-01 - Board RESOLUTION NO. 8701
OF THE
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
EXPRESSING INTENT TO EXERCISE OPTION TO
ACQUIRE CERTAIN DISTRIBUTION FACILITIES FROM
SIERRA PACIFIC POWER COMPANY
WHEREAS, in that contract existing between the District and Sierra
Pacific Power Company, dated January 16 , 1967 , herein called the 1967
Agreement , Sierra Pacific as "Company" and this District as
"Customers" agreed in part as follows:
ARTICLE VI
OPTION TO PURCHASE
At any time within twenty (20) years from the date of this
contract or any extension thereof , Customer shall have the option to
purchase from Company either a part from time to time or all of the
distribution facilities of Company necessary for the providing of
electric service to persons or entities or for use within the
aforementioned area shown on Exhibit C and in fact being so used by
Company. Upon notification of exercise of such option, either from
time to time or at one time, the parties shall undertake to fix the
purchase price and conditions of payment for the particular property
to be acquired, according to original cost less depreciation as
determined by normal accounting principles and as filed with the
regulatory bodies having jurisdiction, and to fix a transfer date.
From and after the date of transfer, Company shall cease to provide
electric service in the area to which the property being transferred
relates.
Notwithstanding the provisions hereinabove , Company shall have the
right at all times to maintain necessary transmission facilities
within the territorial boundaries of the Customer as set forth in
Exhibit B and to use energy therein for its respective substation
�., requirements.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Truckee Donner Public Utility District as follows:
Section 1. This District hereby chooses to exercise the aforesaid
option , and the President of this Board of Directors is hereby
authorized to give the Company notification of exercise of such
option.
Section 2. The General Manager of this District is authorized and
directed to undertake to fix the purchase price with representatives
of the Company, and conditions of payment , for the particular property
to be acquired, and to fix a transfer date, in accordance with the
provisions of Article VI of the 1967 Agreement , and to do any and all
other things necessary or convenient to accomplish the contemplated
transaction.
PASSED AND ADOPTED at a regular meeting of the Board of Directors of
the Truckee Donner Public Utility District duly called and held in
said District on the 14th day of January 1987 by the following roll
►. call vote:
AYES: Cooley, Hamilton, Maass, Sutton, Corbett
NOES: None
ABSENT: None
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
By
ATTEST• n L. Corbett , President
Peter L. Holzmeis er,"District Clerk
st/d7.23