File #: ID 16-1086    Version: 1 Name:
Type: Resolution
File created: 8/9/2016 In control: City Council
On agenda: 8/23/2016 Final action:
Title: Consider approval of a resolution of the City of Denton, a Texas Municipal Home Rule Corporation, ("City") approving and authorizing the sales of certain assets by the Texas Municipal Power Agency ("Agency") and the refunding of certain Agency financial obligations in connection with the Agency's sale of assets; authorizing the Mayor to act on the City's behalf in executing certain amendments to agreements by and between, and among the Agency and the Cities of Bryan, Denton, Garland, and Greenville ("Participating public entities" [Each a "Participating Public Entity"]) necessary to effectuate the Agency's sales of assets and the associated refunding of its financial obligations; and to take such other and further actions as are necessary in order to effectuate and finalize the City's approval of such sales and the refunding of the Agency's related indebtedness; authorizing and approving other matter related thereto; and providing an effective date.
Attachments: 1. Exhibit 1 TMPA Sale Resolution
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Agenda Information Sheet

 

DEPARTMENT:                     Denton Municipal Electric

 

CM/ ACM:                                          Howard Martin                     

 

Date:                                                               August 23, 2016

 

SUBJECT

Title

Consider approval of a resolution of the City of Denton, a Texas Municipal Home Rule Corporation, (“City”) approving and authorizing the sales of certain assets by the Texas Municipal Power Agency (“Agency”) and the refunding of certain Agency financial obligations in connection with the Agency’s sale of assets; authorizing the Mayor to act on the City’s behalf in executing certain amendments to agreements by and between, and among the Agency and the Cities of Bryan, Denton, Garland, and Greenville (“Participating public entities” [Each a “Participating Public Entity”]) necessary to effectuate the Agency’s sales of assets and the associated refunding of its financial obligations; and to take such other and further actions as are necessary in order to effectuate and finalize the City’s approval of such sales and the refunding of the Agency’s related indebtedness; authorizing and approving other matter related thereto; and providing an effective date.

Body

 

BACKGROUND

 

This matter will be addressed by both staff and the City’s attorneys in closed session.

 

OPTIONS

 

Deny

Approve

 

RECOMMENDATION

 

Approve as presented

 

 

 

                                                                                                                                                   Respectfully submitted:

                                                                                                                              Phil Williams,

                                                                                                                              General Manager, DME

 

Prepared by:

Larry Collister

Deputy City Attorney