Book 14 (January 1950 - July 1954) - City of Oxford

83\IMINUTE BOQK NQ. 14, CITY_ Of OXfORD.-'-. -"'--. --_:.-.-. -----=---.. -"--==- _____ -'-' .. c ___ --'- ;-"'-'-'- _____ .•. c .. - .-----..•• : .. -===.:-:...:..=' iF!1 =IIThe motion having received the affirmative vote of all of the Alderman .present, theMayor declared the motion carried and the resolution adopted.(SEAL)T. E. CombsCity ClerkR. X. Will iamsllqor"EXHIBIT "ArtPOWER CONTRACTbetweenTENNESSEE VALLEY AUTHORITYaniCITY OF OXFOOD, MISSISSIPPIThis AGREEMENT, made and entered into as of this 30th day of May, 1950, by and betweenTENNESSEE VALLEY AUTHORITY (hereinafter called "Authority"), a corporation created am existingunder and by virtue of the Tennessee Valley Authority Act of 1933 as amended, and CITY OF OXFORD(hereinafter called "Municipality"), a municipal corporation duly created, organized and existingunder and by virtue of the laws of the State of Missis si.ppi;WHEREAS, Authority, by section 10 of the TEllnessee Valley Authority Act of 1933 as amended,is authorized to sell the surplus power generated by it ani not us8d in its operations, and isdirected to give prefere~ e to States, cwnties, municipalities, and cooperative organizationsC£ citizens or farmers not organized or doing busines s for profit; andWHEREAS, by section II of said act it is provided that the sale of power by Authorityshall be primarily for the benefit of the people of the section as a whole ani particularlyth e danestic and rural conswners to whom the power cm ecomm:ically be made available;andWHEREAS, Municipality now owns and operates its own generation and di stribution system forth e p.1rpose of supplying electric energy to cmsumers inside am wtside Municipality's corporatelimits; andWHEREAS: Municipality deslres to abandon its generating plant ani purchase electric powermd energy from Authority for mUIiic ipal use and resale in the operation of its distribltionsystem; andWHEREAS, all acts, things anj conditions necessary under law ani Municipality's charter tomake this agreement the valid and binding obligation of the parties hereto have been done,pe rfa-med, and complied with;NOO, THEREFORE, for and. in consideratim of the mutual covenants herein contained andsubject to the provisions of the Tennessee Valley Authority Act of 1933 as amended, the partieshereto covenant and agree as follows:1. Term of Contract. This contract shall became effective as of the date first abovementioned and shall continue in effect fer twenty (20) years; provided, however, that sections 4to 13, inclllsive, shall become effective on JanUlry 1, 1951, except as oth~rwise expressly pro­Tid ed therein.2. Installatim of l;'acilities. :Municipality will install at its own expense thefacilitieS-necessary to take power-from Authority at 13,000 volts at Authority's existing OxfordSubstation for use on Municipality's electric system with circuit voltage of 12,500 volts.3. ~imEmergency Power. Conmencing with any day prior to JaIDJary 1, 1951, on whichMunicipality i..q ready to take power at 13 ~v at At.t.mrity's Oxford Stbstation, Authority willendeavor to supply, at Municipality's request, such ernerge"clr requirements ofamic,"pality, asmay be in excess of the capabilities of Municipality's genaating facilities. 16.micipality.sha]l ~y for the emergency power and energy delivered to lIunicipality unda- this section a demandcharge at the rate of ~O cents per week pa- kw of demand, am an energy charge at the rateof 120% of the out-of-pocket cost to Authority per kwh of the Energy. supplied, such out-of- .pocket cost to include any starting-up and shutting-down expenses at steam plants operated tosupply Municipality's requirements. For the p.1rposes of this section 3 demand is defined as thehighest average load measured in kilowatts during any 60 consecutive minute period of the calendarweek.i:1Ii:iIi'IIi1;!4. Interim Power SuPPly. For the period beginning with Jan\.ll.ry 1, 1951, and extending toMarch 1, 1952, Authority shall supply at Authority's Oxford Substation at 13,000 voltsMunicipality's requirements for electric power and energy to the extent that it is physicallyand economically feasible for Authority to do so and such service will not jeopardize Authority'sability to comply with prior canmitments to Authority's other customers. Municipality shall,during said periDd, operate its generating plant to the extent necessary to supply its requirementsfer power and energy in excess of the lD)unts available from Authority under this section .•The power ani energy made available to 1lmicipality by AuthDrity under this sectim shall be piidfor by Jlunicipal1ty at the rate of 7i mills per kilowatt-hour. . ,-~