Title
RESOLUTION AUTHORIZING AGREEMENT WITH ME GLOBAL, INC., FOR GAS TRANSPORTATION SERVICES.
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to enter into an agreement with ME Global, Inc., substantially in the form attached hereto as Document A, pursuant to which the city would transport a maximum level of natural gas owned by ME Global from its delivery point in the city’s gas system to ME Global’s designated delivery point at a cost per metric million British thermal unit (MMBtu) to ME Global determined by the volume transported and the rates set forth in the agreement, payable to the Gas Fund 520, Department 500 (Public Works and Utilities), Division 1900 (Director’s Office), Revenue Account 4827 (Gas - Interruptible Transport).
Statement of Purpose
This resolution authorizes the execution of an agreement with ME Global pursuant to which the city would transport a maximum level of natural gas owned by ME Global from its delivery point in the city’s gas system to ME Global’s designated delivery point at a cost per metric million British thermal unit to ME Global at the rates set forth in the agreement. This is a renewal of an existing agreement. This agreement is for a term of ten years and has one ten-year option to renew upon the mutual consent of both parties.