HomeMy WebLinkAbout030903 RES - 07/26/2016 RESOLUTION
AUTHORIZING THE CITY MANAGER, OR CITY MANAGER'S DESIGNEE, TO
EXECUTE A FIVE-YEAR NATURAL GAS SUPPLY CONTRACT WITH NEXTERA
ENERGY POWER MARKETING, LLC ("NEXTERA"), JUNO BEACH, FLORIDA FOR
AN ESTIMATED AMOUNT OF $125,000,000.00 OF WHICH $1,500,000.00 IS
NEEDED FOR THE REMAINDER OF THE FY 2015-2016, FOR THE PURCHASE OF
100% OF THE CITY'S NATURAL GAS REQUIREMENT FROM AUGUST 1, 2016 TO
JULY 31, 2021.
Be it resolved by the City Council of the City of Corpus Christi, Texas:
Section 1. The City Manager, or the City Manager's designee, is authorized to
execute a five-year natural gas supply contract with NextEra Energy Power Marketing,
LLC ("NextEra"), Juno Beach, Florida for an estimated amount of $125,000,000.00 of
which $1,500,000.00 is needed for the remainder of the FY 2015-2016, for the
purchase of 100% of the City's natural gas requirement from August 1, 2016 to August
1, 2021.
Section 2. The City Manager or the City Manager's designee is authorized to execute
up to three monthly extension agreements at the same terms and conditions with
NextEra if a new contract has not been awarded upon the expiration of the original
contract period.
Section 3. This Resolution shall take effect and be in full force immediately after its
adoption by the City Council.
ATTEST: THE CI OF CORPUS CHRISTI
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Rebecca Huerta Nelda Martinez
City Secretary Mayor
Corpus Christi, Texas
W'-of , 2016
The above resolution w passed by the following vote:
Nelda Martinez
Rudy Garza
Michael Hunter , et •
Chad Magill .
Colleen McIntyre
Brian Rosas CL
Lucy Rubio
Mark Scott
Carolyn Vaughn
: $ 30913
INDEXED
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7&8)
I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized
representative), hereby certify to the City Council and other appropriate officers that the money required
for the current fiscal year's portion of the contract, agreement, obligation or expenditure described
below is in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and has
not been appropriated for any other purpose. Future payments are subject to annual appropriation
by the City Council.
City Council Action Date: July 26. 2016 Legistar Number: 16-0753
Agenda Item:
Resolution authorizing the City Manager, or the City Manager's designee, to execute a five-
year natural gas supply contract with NextEra Energy Power Marketing, LLC ("NextEra"), Juno
Beach, Florida for an estimated amount $125,000,000.00, of which $1,500,000.00 is needed
for the remainder of the FY 2015-2016, for the purchase of 100% of the City's natural gas
requirement from August 1, 2016 to July 31, 2021.
Amount Required: $1.500.000.00
Fund Name Accounting Unit AcNoount Activity No. Amount
Gas 4130-34100-021 520200 $1,500,000.00
Total $1,500,000.00
❑ Certification Not Required
Director of Financial Services
JUL 2 6 2016