Title
RESOLUTION AUTHORIZING AN AGREEMENT WITH THE PUBLIC ENERGY AUTHORITY OF KENTUCKY (PEAK) FOR THE PURCHASE OF NATURAL GAS AT AN ANNUAL COST TO BE DETERMINED BY PLATT’S MONTHLY INDEX PRICING.
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are authorized to execute an agreement, substantially in the form of that attached as Document A, with PEAK for the acquisition of secure, reliable and economic supplies of natural gas necessary for the prudent and businesslike operation of the utility owned by the City; the continued economic development of its community; and the promotion of public health, safety and welfare, at an annual cost to be determined by Platt’s monthly index pricing, payable from fund no. 520-500-1960-5280.
Statement of Purpose
This resolution authorizes an agreement with the Public Energy Authority of Kentucky (PEAK) for the acquisition of natural gas as set forth in Document A. This is a renewal of a multi-year agreement with PEAK and ensures that the City will have a secure, reliable and economic supply of natural gas necessary for the operation of the City’s natural gas utility.