Title
Resolution - Approval of Budget Amendment for Substation for Future Industrial Member - 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 a budget amendment 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 cost of the substation to serve the proposed pump station up to $4.5M in contribution in aid for the construction.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that the 2017 PEC Budget is approved to include capital expenditures for construction of a substation; and
BE IT FURTHER RESOLVED, that the Chief Financial Officer is authorized to take such actions as needed to implement this resolution.