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| DATE:
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5/6/2013 7:00:00 PM |
| SUBJECT: |
| Council Consideration of a Resolution Determining that the Construction of the Transmission Line Project has been Completed and Accepted by the City of Gillette and all Costs of Acquisition and Construction Have Been Paid. |
| BACKGROUND: |
| As part of the bond issue for the purchase of the 23% interest in the Wygen III powerplant, there was $1,500,000 included for the construction of the Transmission Line Project, consisting of a 69Kv power line from the Neil Simpson#1 Generating Station to the Warlow Substation. That line has been constructed and has been incorporated into the City system. Section 7.3 of the Trust Indenture requires that the City pass a Resolution upon the completion of the transmission line project before the Trustee can reimburse the City for the remaining balance in the Project Fund of $403,959.24. |
| SUGGESTED MOTION: |
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I move for the Approval of a Resolution Determining that the Construction of the Transmission Line Project has been Completed and Accepted by the City of Gillette and all Costs of Acquisition and Construction Have Been Paid.
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| STAFF REFERENCE: |
| Charlie Anderson, City Attorney |
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