1987RESOLUTION NO.
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO
ENTER INTO AN EXTENSION OF THE POWER SUPPLY AGREEMENT
WITH NRG POWER MARKETING, LLC., AND FOR OTHER PURPOSES.
WHEREAS, the West Memphis Utility Commission (WMUC) issued a power supply
Request for Proposals (RFP) on December 5, 2008; and
WHEREAS, a number of bidders submitted proposals in response to the WMUC RFP;
and
WHEREAS, the Engineers and Counsel recommended to the WMUC, which also
recommended that the City Council authorize the contract with NRG POWER MARKETING,
LLC., for the supply of wholesale power; and
WHEREAS, the City Council found that it is in the best interest of the City of West
Memphis that NRG POWER MARKETING, LLC., be chosen as said power supplier; and
WHEREAS, the WMUC and NRG POWER MARKETING, LLC., have negotiated an
extension of the power supply agreement which extension the City Council finds to be in the best
interests of the City of West Memphis; and
WHEREAS, A.C.A. § 14-58-104(b) authorizes the municipal governing body of a city of
the first class to renew or extend the term of an existing contract without soliciting bids;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS:
SECTION 1. That the Mayor and the City Clerk are hereby authorized to enter into the
extension of the power supply agreement with NRG POWER MARKETING, LLC., and the
Mayor is hereby authorized to make any modifications, amendments or changes that maybe
necessary in the ongoing process of finalization of the extension of the contract terms. Said
extension agreement is hereby approved and is attached hereto and incorporated herein as
Exhibit A.
SECTION 2. That this Resolution shall be in full force and effect from and after its
passage and approval.
PASSED AND APPROVED this ST~day of May, 2011.
WILLIAM H. JOHNSON, MAYOR
ATTEST:
IL P P ,CITY CLERK
SPONSORED BY:
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Amendment to the Power Supply Agreement
between
NRG Power Marketing LLC
and
City of West Memphis, AR
This Amendment (the "Amendment") to the Power Supply Agreement dated May 12, 2009, is
made and entered into on May 5~', 2011 (the "Effective Date', by and between NRG Power
Marketing LLC, a Delawaze limited liability company ("SELLER"), and the City of West
Memphis, Arkansas, a political subdivision of the State of Arkansas ("BUYER"). SELLER
and BUYER aze hereinafter sometimes referred to each individually as a "Party" and collectively
as the "Parties".
RECITALS
WHEREAS, BUYER and SELLER are Parties to that certain Power Supply Agreement
(the "Agreement"), dated May 12, 2009, pursuant to which SELLER sells and BUYER
purchases capacity and energy for the benefit and use of BUYER's retail customers; and
then
WHEREAS, the Parties wish to amend the Agreement as set forth in this Amendment;
THEREFORE, for and in consideration of the premises and the mutual covenants and
agreements hereinafter set forth, and other good and valuable consideration, the receipt and
sufficiency of which aze hereby acknowledge, the Parties agree as follows:
AGREEMENT
1. The definition of Delivery Term under Article 1 of the Agreement is hereby
amended as follows: the date "December 31, 2013" shall now read "December 31, 2014".
2. The table in Section 3.3 of the Agreement is deleted in its entirety and replaced
with the following:
Period of Delivery Term Contract Demand
Price
$/kW-mo. Contract
Energy Price
$/MWh
Jan 1, 2011 -Dec 31, 2011 $0.00 $60.75
Jan 1, 2012 -Dec 31, 2012 $0.00 $80.75
Jan 1, 2013 -Dec 31, 2013 $0.00 $60.75
Jan 1, 2014 -Dec 31, 2014 $0.00 $57.74
3. Except as expressly modified in this Amendment, the remainder of the Agreement
shall remain in full force and effect.
4. This Amendment may be executed in counterparts, including by electronic
transmission, each of which shall be deemed to constitute an original, and all of which together
shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by
their respective duly authorized officers on, and effective as of, the first date above written.
City of West Memphis, AR
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NRG Power Marketing LLC
sy:
Name:
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CERTIFICATE
STATE OF ARKANSAS
( SS COUNTY OF CRITTENDEN )
The undersigned, City Clerk of the City of West Memphis, Arkansas, hereby
certifies that the above and foregoing is a true and complete and correct copy of
Resolution #1987 A Resolution of the City Council of West Memphis. Arkansas.
Authorizing the Mayor and City Clerk to enter into an extension of the power supply
agreement with NRG Power Marketing LLG.. IN WITNESS WHEREOF, I have
hereunto set my hand as City Clerk of the City of West Memphis, Arkansas, and the
Official Seal of said City, on this 5th day of May. 2011.
_ ,~
CITY CLERK, C TY OF WEST MEMPHIS
CRITTENDEN COUNTY, ARKANSAS