Res 1984-077 - Laserfiche WebLink

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STATE OF TEXAS EXCHÞN;E AGREEMENT Q)UN1Y OF HAYS KNOW ALL PERffiNS BY THESE PRESENTS: This Agreement is made and entered into by and between the City of &m Marcos, Texas, a mmicipal corporation under the laws of the State of Texas, acting by authority of Resolution 1984- , adopted by the City Council of said City on September 4, 1984, hereinafter referred to as "City" and Pedernales Electric Co-Cþ, Inc., hereinafter referred to as "PEC". The parties hereto are bound to the mutual obligations and performances hereinafter described: I. PEC shall install, in exchange for only the consideration specified in Article II hereinbelow, at the San Marcos Municipal Airport, hereinafter referred to as "Airport", an electrical system, which shall remain the property of PEC, for the provision of electricity to the Airport by PEC, which electrical system shall include, but not necessarily be limited to the following: 1. Approximately twenty-four (24) new electrical poles; 2. Approximately seven (7) new electrical transforrœrs; 3. Approximately 5605 feet of new three (3) phase electrical line; and 4. Approximately 155 feet of new three (3) wire service electrical line. Such installation shall be accoITplished by PEC no later than ,1984. II. As the sole consideration for such installation of said electrical sys tem by PEC, Ci ty hereby grants, gives, and conveys to PEC the exclusive and sole ownership of the electrical system which is presently, at the date of the execution of this agreement, in existence and in place at the Airport and through which the Airport presently receives electricity from a source other than subject matter of this agreement and which were made prior to the execution of this contract between the City and PEC have been reduced to writing and are contained herein.