Four Owner Municipalities Sign
Extension of Platte River Power Authority Contract
FORT
COLLINS, Colo. -- The four
owner municipalities of Platte River Power Authority
renewed and extended its Organic Contract--the
intergovernmental agreement that established the
utility and defines its purpose, functions and system
of governance. The mayors of all four municipalities
recently sat down to formally sign the Contract,
which extends the life of Platte River through 2050.
The Organic Contract was originally entered into
on June 17, 1975. Because many of the actions that
Platte River takes are long term in nature (e.g.,
issuing long-term bonds and building and operating
facilities that have expected useful life of more
than thirty years) it has been the practice to extend
the term of the Organic Contract roughly every ten
years so that the remaining term never falls below
thirty years. In 1980, the term of the Organic Contract
was extended through the year 2020 and in 1998 it
was extended through 2040.
"Our municipalities' decision to create Platte
River back in the 1970s was a visionary one," said
Platte River's General Manager Brian Moeck. "With
the extension of the Organic Contract, our communities
will continue to reap the benefits of owning their
supplier of low-cost, reliable and environmentally
responsible electricity for many years to come."
"I can’t think of a better example of successful
cooperation among municipalities than Platte River,"
said Fort Collins Mayor Doug Hutchinson.
Platte River Power Authority generates
and delivers reliable, low-cost and environmentally
responsible
electricity to its owner communities of Estes Park,
Fort Collins, Longmont and Loveland, Colorado, where
it is distributed by each municipal utility to residents
and businesses. For more information, please visit
www.prpa.org .
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left
to right: Estes Park Mayor Bill Pinkham,
Fort Collins Mayor Doug
Hutchinson,
Longmont Mayor Bryan Baum, Loveland Mayor Cecil
Gutierrez
(A
high-resolution version of the inserted photograph
is available upon request.)
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