DEPARTMENT: Office of the City Clerk
DEPARTMENT HEAD: Leticia M. Vacek (OCC)
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Appointments to the SA Energy Acquisition Public Facility Corporation
SUMMARY:
A Resolution appointing Ed Fleming (Chief Financial Officer) and reappointing Mayor Ivy R. Taylor, Edward B. Kelley (Northwest Quadrant), Homer Guevara, Jr. (Southwest Quadrant), Derrick Howard (Southeast Quadrant), John T. Steen (Northeast Quadrant), Paula Gold-Williams (CPS Energy President & Chief Executive Officer) to the SA Energy Acquisition Public Facility Corporation for the remainder of terms of office to expire January 31, 2019.
BACKGROUND INFORMATION:
CPS Energy requests agenda placement for a resolution for the appointment of Ed Fleming, CPS Energy Chief Financial Officer, and the reappointment of Mayor Ivy R. Taylor, Edward B. Kelley, Homer Guevara, Jr., Derrick Howard, John T. Steen, and Paula Gold-Williams to the SA Energy Acquisition Public Facility Corporation ("SA Energy") created pursuant to Resolution No. 2007-04-19-0455R. The purpose of SA Energy is to assist with financing, refinancing and acquiring long-term interests in fuel supplies for generation facilities under favorable debt financing terms pursuant to the Texas Public Facility Corporation Act. Under the Articles of Incorporation of SA Energy, the Trustees of the CPS Energy Board, the General Manager and CEO of CPS Energy, and the Chief Financial Officer shall serve as Directors of the SA Energy Board of Directors for two-year terms. The current terms expired January 31, 2017, and they are currently in a hold-over status. This Resolution will approve terms expiring January 31, 2019.
ISSUE:
Pursuant to the SA Energy By-Laws approved in Resolution No. 2007-04-19-0455R, the board of directors of the SA Energy is made of seven members, consisting of the CPS Energy Board of Trustees and the CPS Energy General Manager and CEO and the Chief Financial Officer.
ALTERNATIVES:...
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