Title
Resolution - Approval of Authority Regarding Terms and Conditions in Facilities Lease and Transmission Operations Agreement - A Hagen
Other Info
Submitted By: Audri Nelson
Department: Legal Services
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
In 1990, Pedernales Electric Cooperative entered into a facilities lease, as amended, with respect to its transmission assets with the Lower Colorado River Authority now the Lower Colorado River Authority Transmission Services Corporation (TSC) and also entered into a transmission operations agreement, as amended, in 2010 with TSC.
Body
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF PEDERNALES ELECTRIC COOPERATIVE, INC. that the Cooperative authorizes the Chief Executive Officer, or designees, to deliver such notices as may be required by the facilities lease or the transmission operations agreement, and to negotiate, execute, and deliver such amendments, agreements, confirmations or certificates necessary or appropriate in such person’s reasonable discretion; and
BE IT FURTHER RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that the Chief Executive Officer, or designees, are authorized to take such actions as needed to implement this resolution.