The Council has approved a Resolution authorizing execution on behalf of the City of an amendment to the Professional Retail Operations Agreement (Agreement) between Nebraska Public Power District and the City of Hay Springs, Nebraska. The Agreement is on file with the City Clerk and available for inspection. It contains provisions summarized as follows:
1. The City will extend the lease of its electric distribution system to Nebraska Public Power District for a term of not less than fifteen (15) years from the effective date of the amendment and not more than twenty-five (25) years; provided, if either party terminates the Agreement at any time between year fifteen ( 15) and year twenty-five (25) of the term, the City will continue to take service from NPPD under NPPD’s standard Wholesale Power Contract, and such Wholesale Power Contract shall remain in effect through the remainder of the twenty-five (25) year term.
2. During the term of the Agreement, NPPD will pay to the City an amount equal to twelve percent (12%) of the retail revenues from the electric distribution system, adjusted to eliminate revenues from tax-supported agencies, fuel cost, and similar adjustments. NPPD will maintain the electric distribution system, will make payments in lieu of taxes as required by law, and will provide insurance, as set out in the Agreement.
This Notice will be published once each week for three (3) successive weeks. If, within thirty (30) days after the last publication thereof, a referendum petition signed by qualified electors of the City equal in number to at least twenty percent (20%) of the votes cast at the last general municipal election shall be filed with the City Clerk, this transaction shall not become effective until it has been approved by a vote of the electors. If no such petitions are filed, the transaction shall become effective at the expiration of said thirty (30) day period.
City of Hay Springs, Nebraska
Attest: /s/ Kayley Taylor
By: /s/ Richard McKay
Published: September 20, September 27 and October 4, 2017