12/16/2008 Resolutions 2008-349RESOLUTION 2008-349
WHEREAS, the City of Grand Island, the Nebraska Public Power District and other
electric utilities have participated in the development of a wind energy project by Elkhorn Ridge Wind
Energy, LLC (Elkhorn); and
WHEREAS, Nebraska Public Power District has entered into a Power Purchase
Agreement with Elkhorn for the output ofthe project, and is re-marketing portions ofthat power to
other electric utilities; and
WHEREAS, the parties desire to enter into a Power Sales Agreement to receive
electric energy produced by the Elkhorn Ridge Wind Project according to the terms and conditions
outlines in the Power Sales Agreement; and
WHEREAS, the Power Sales Agreement allows Grand Island to purchase power for
$50 per megawatt hour increasing 2.5% per year, which equates to an approximate cost of $160,000
for the first year, increasing 2.5% per year thereafter; and
WHEAREAS, the agreement is for twenty years; and
WHEAREAS, the City Attorney's office has reviewed and approved the agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Power Sales Agreement for Elkhorn Ridge
Wind Project by and between the City of Grand Island and Nebraska Public Power District be, and
hereby is, approved in accordance with the terms of the agreement.
BE IT FURTHER RESOLVED, that the Mayor is hereby authorized and directed to
execute such agreement on behalf of the City of Grand Island.
Adopted by the City Council of the City of Grand Island, Nebraska, December 16, 2008.
Margare Hornady, Mayor
Attest:
RaNae Edwards, City Clerk
Approved as to Form n ` ,'
December 15, 2008 R City Attorney