RESOLUTION NO. 565 RESOLUTION APPROVING PROFESSIONAL RETAIL OPERATIONS AGREEMENT WHEREAS, the City owns its electric distribution system, and WHEREAS, the Professional Retail Operations Agreement on file with the City Council has been proposed by Nebraska Public Power District (NPPD) and fully discussed and explained, and WHEREAS, it is determined that it would be desirable to enter into said Professional Retail Operations Agreement. NOW, THEREFORE, BE IT RESOLVED: 1. The said Professional Retail Operations Agreement is approved and the Mayor is authorized to execute it, and the City Clerk to attest it on behalf of the City. 2. Notice of this transaction shall be given by publication once each week for three (3) successive weeks, of the following Notice: NOTICE OF TRANSACTION The City Council has approved a Resolution authorizing execution on behalf of the City of a Professional Retail Operations Agreement (Agreement) between Nebraska Public Power District and the City of Milford, Nebraska. The Agreement is on file with the City Clerk and available for inspection. It contains provisions summarized as follows: 1. The City will lease its electric distribution system to Nebraska Public Power District for a term of twenty-five (25) years; 2. During the term of the Agreement, NPPD will pay to the City a lease payment determined per the agreement based on a percentage of the retail revenues from the electric distribution system. NPPD will maintain the electric distribution system, will make payments in lieu of taxes as required by law, and will provide insurance, as set out in the Agreement. This Notice will be published once each week for three (3) successive weeks. If, within thirty (30) days after the last publication thereof, a referendum petition signed by qualified electors of the City equal in number to at least twenty percent (20%) of the votes cast at the last general municipal election shall be filed with the City Clerk, this transaction shall not become effective until it has been approved by a vote of the electors. If no such petitions are filed, the transaction shall become effective at the expiration of said thirty (30) day period. ATTEST: Jeanne Hoggins, City Clerk CITY OF MILFORD, NEBRASKA Nick Glanzer, Mayor The Mayor having called for remarks, there was general discussion of the foregoing resolution and, after discussion, a vote was called for upon the question of the adoption of the resolution. The question was put upon the adoption of the resolution and the roll called. Roll call vote: Bashore yes, Kelley yes, Baker yes, Kral yes. Motion carried. Whereupon, the Mayor declared the said resolution to have been duly and legally adopted by the Council and signed his or her approval thereto. Jeanne Hoggins, City Clerk Nick Glanzer, Mayor MT — September 12, 19, 26, 2018
