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Sponsored by: Oates <br /> CITY OF SEWARD, ALASKA <br /> RESOLUTION 2009 -133 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> �. SEWARD, ALASKA, IN SUPPORT OF THE GREATER RAILHELT <br /> ENERGY AND TRANSMISSION CORPORATION <br /> WHEREAS, Chugach Electric Association (CEA), Matanuska Electric Association (MEA) <br /> and the City of Seward (COS) jointly support the establishment of the Greater Railbelt Energy and <br /> Transmission Corporation (GRETC) and will collectively work with the Alaska Energy Authority <br /> (AEA) to incorporate proven business concepts into the current Legislation (HB182 and SB143) <br /> establishing GRETC; and <br /> WHEREAS, the stated purpose of GRETC is to provide all Railbelt electric utilities with <br /> access to reliable, long -term, wholesale power supplies at stable prices; and <br /> WHEREAS, to fulfill this purpose GRETC must acquire adequate fuel supplies for existing <br /> and planned generation resources while concurrently developing and promoting renewable and <br /> alternative generation and regional transmission projects that can diversify power supply resources; <br /> and <br /> WHEREAS, GRETC will best succeed based upon a private /public partnership with a <br /> unified business structure that incorporates rational economic decision making, lowest financing <br /> costs and provides business continuity through technical competence, and corporate leadership; and <br /> WHEREAS, the Railbelt electric grid has significant capital investment needs, and GRETC <br /> in cooperation with the Alaska Energy Authority (AEA) and state - assisted financing can provide the <br /> lowest cost financing and reduce the risk to individual utilities; and <br /> WHEREAS, GRETC can provide regional generation and transmission planning for the <br /> benefit of all Railbelt utility customers through an Integrated Resource Plan (IRP) process and this <br /> process will support rational funding decisions for future generation and transmission projects; and <br /> WHEREAS, through the GRETC planning process, all Railbelt utilities will benefit from <br /> increased reliability and over time GRETC will endeavor to provide equal reliability for all service <br /> territories within its jurisdiction; and <br /> WHEREAS, the Bradley Lake hydroelectric project is one example of a project that has <br /> been successful based upon state - assisted financing through AEA and the combined strengths of the <br /> Railbelt electric utilities to manage and operate highly technical generation and transmission <br /> facilities; and <br />