Res 136-98 9/1/1998RESOLUTION NO. 'k %-CIF)
RESOLUTION APPROVING THE ASSIGNMENT OF THE NON -
ANNEXATION CONTRACT WITH WICHITA FALLS ENERGY
COMPANY, LTD. TO SOUTHERN ENERGY, INC., OR A WHOLLY
OWNED SUBSIDIARY THEREOF; FINDING AND DETERMINING THAT
THE MEETING AT WHICH THIS RESOLUTION WAS PASSED WAS
OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls has previously entered into a non -
annexation contract with Wichita Falls Energy Company, Ltd., as authorized by
Resolution 195 -94 dated December 6, 1994; and,
WHEREAS, Section 10 of such contract provides that Wichita Falls Energy
Company, Ltd. will not assign the agreement without the written consent of the City;
and,
WHEREAS, Southern Energy, Inc., or a wholly owned subsidiary thereof, desires
to purchase the property and facilities affected by the above - referenced non - annexation
agreement; and,
WHEREAS, the City Council of the City of Wichita Falls is of the opinion that
such assignment of the non - annexation agreement to Southern Energy, Inc., or a
wholly owned subsidiary thereof would be in the best interests of the City of Wichita
Falls.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The City Council hereby approves the assignment of the non -
annexation agreement dated December 6, 1994, by and between the City of Wichita
Falls and Wichita Falls Energy Company, Ltd. to Southern Energy, Inc., or a wholly
owned subsidiary thereof.
SECTION 2. The City Manager be and is hereby authorized to execute all
necessary documents evidencing the City's intent to approve such assignment.
SECTION 3. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required by law
PASSED AND APPROVED this the 1 st day of September, 1998.
ATTEST:
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City Clerk
MAYOR/