HomeMy WebLinkAboutRES 121421-AS2 - Agrmt Mercuria EnergyRESOLUTION NO. 121 Ll 2-1 r AS-7
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, AUTHORIZING THE MAYOR TO
EXECUTE THE SECOND AMENDMENT TO THE ISDA 2002
MASTER AGREEMENT WITH MERCURIA ENERGY AMERICA,
LLC; REPEALING CONFLICTING RESOLUTIONS; INCLUDING A
SEVERABILITY CLAUSE; AND ESTABLISHING AN EFFECTIVE
DATE.
WHEREAS, the City of Georgetown ("City") has determined that it is in the interest of
the City to enter into certain agreements to better manage energy risk; and
WHEREAS, through Resolution No. 011420-AC, the City entered into the International
Swaps and Derivatives Association 2002 Master Agreement ("Master Agreement") with Mercuria
Energy America, LLC dated January 8, 2020; and
WHEREAS, on February 11, 2020, the parties to the Master Agreement entered into the
First Amendment to the Master Agreement; and
WHEREAS, the City desires to amend the minimum transfer amount and rounding
amounts of the Master Agreement to better address future energy and capacity needs of the City.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GEORGETOWN, TEXAS:
SECTION 1. The facts and recitations contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof.
SECTION 2. The Mayor is hereby authorized to execute the Second Amendment to the
Master Agreement and any and all such other documents and instruments as may be necessary or
appropriate to carry out the terms of the Second Amendment to the Master Agreement, and to do all
such other acts as in the opinion of such authorized individual may be necessary or appropriate in order
to carry out the purposes and intent of the foregoing resolutions.
attest.
SECTION 3. The Mayor is authorized to sign this Resolution and the City Secretary to
SECTION 4. This Resolution shall become effective immediately upon adoption.
Resolution No. 1214 Zl P�S- Z Page 1 of 2
Subject: Authorizing Execution of ISDA 2DD2 Master Agreement with Mercuria Energy America, LLC
Date Approved E)&" _-gaRA
RESOLVED this day of 'O_C��. 2021.
ATTEST:
Robyn Densmore, City Secretary
APPROVED AS TO FORM:
Skye assoirk City Attorney
Resolution No.
THE CITY OF GEORGETOWN:
Subject: Authorizing Execution of ISDA 2002 Master Agreement with Mercuria Energy America, LLC
Date Approved
Mayor
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