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65 RESOLUTION 1986-l28R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS PINALLY APPROVING THE PURCHASE AGREEMENT BETWEEN THE LOWER COLORADO RIVER AUTHORITY M~D THE CITY OF SAN MARCOS, TEXAS FOR THE PURCHASE OF CERTAIN ELECTRIC UTILITY DISTRIBUTION AND GENERAL PLANT FACILITIES SERVING THE CITY, FINALLY APPROVING THE WHOLESALE POWER AGREEMENT BETWEEN THE LOWER COLORADO RIVER AUTHORITY AND THE CITY OF SAN MARCOS, TEXAS, FINALLY APPROVING THE OPERATING AGREEMENT BETWEEN THE LOWER COLORADO RIVER AUTHORITY AND THE CITY OF SAN ~ßRCOS, TEXAS, AUTHORIZING SIGNATURE OF THE PURCHASE AGREEMENT BY THE MAYOR OR CITY MANAGER AND FURTHER AUTHORIZING THE MAYOR OR CITY MANAGER OR SPECIAL LEGAL COUNSEL OF THE CITY, JOHN W. DAVIDSON OR THO~ßS H. PETERSON, TO EXECUTE ON BEHALF OF THE CITY ANY AND ALL DOCUMENTS REQUIRED TO CLOSE THE PURCHASE AND TO TAKE ANY ACTION WHICH THE CITY MAY BE REQUIRED TO TAKE AT THE CLOSING OF THE SALE OF SAID FACILITIES BY THE LOWER COLORADO RIVER AUTHORITY TO THE CITY, DIRECTING ELECTRIC SYSTEM FUNDS TO BE DEPOSITED UNDER THE DIRECTION OF THE DIRECTOR OF FINANCE, AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City of San Marcos, Texas and River Authority (LCRA) executed a Memorandum Of June 6, 1986 relating to the purchase by electric utility distribution and general currently serving the City; and, the Lower Colorado Understanding on the City of LCRA's plant facilities WHEREAS, the City Council, by previous resolution passed and approved August 11, 1986, approved in principle a proposed purchase agreement authorizing the Mayor to execute the purchase agreement after any final revisions were incorporated into it but requesting the re-submission of the purchase agreement to the City Council for its final approval; and, WHEREAS, the final form of the proposed purchase agreement as attached to this Resolution has been re-submitted to the Council after further negotiations, with the recommendations of the staff and consultants employed by the City that the Council approve, and that the Mayor or City Manager be authorized to execute the final form of the purchase agreement attached hereto as Exhibit "A" and incorporated herein for all purposes; and, WHEREAS, it is desirable to authorize the Mayor or the City Manager or special legal counsel of the City, John W. Davidson or Thomas H. Peterson, to execute on behalf of the City any and all documents required to close the purchase and take any action which the City may be required to take at the closing of the sale of said facilities to the City; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. That the proposed purchase by the City of LCRA's electric distribution and general plant facilities currently serving the City is in the public interest. PART 2. That the terms and conditions of the final Purchase Agreement between the City of San Marcos and LCRA, attached to this Resolution as Exhibit "A" and incorporated herein in its entirety for all purposes, is hereby approved. PART 3. That the terms and conditions of the final \Vholesale Power Agreement between the City of San Marcos and LCRA, attached to this Resolution as Exhibit "B" and incorporated herein in its entirety for all purposes, is hereby approved.