Title
Resolution - Approval of Acquisition of Land - P Lochte
Other Info
Submitted By: Paul Lochte
Department: Engineering and Energy Innovations
Financial Impact and Cost/Benefit Considerations: No expenditure of Cooperative funds.
Discussion
The Cooperative will consider authorizing the acquisition of real property located in Williamson County, Texas (the “Substation Property”) for a substation to serve a future industrial member who has requested service to an approximate 10MVA load for a crude oil pipeline pump station in the Liberty Hill area. The future industrial member has offered to provide the land and cost of the substation to serve the proposed pump station. The Substation Property is approximately 10 acres.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that the Cooperative approve the acquisition of real property, subject to receipt of a satisfactory environmental assessment and satisfaction of any other terms as discussed by the Board during Executive Session of this meeting, with certain details to be publicly available upon public filing of instruments memorializing the transfer; and
BE IT FURTHER RESOLVED, that the Chief Financial Officer is authorized to take such actions as needed to implement this resolution.