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Sponsored by: Oates <br /> CITY OF SEWARD, ALASKA <br /> W <br /> RESOLUTION 2010 -092 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> SEWARD, ALASKA, IN SUPPORT OF THE ALASKA RAILBELT <br /> COOPERATIVE TRANSMISSION AND ENERGY COMPANY <br /> WHEREAS, the City of Seward along with other Alaskan utilities support the <br /> establishment of the Alaska Railbelt Cooperative Transmission and Energy Company <br /> (ARCTEC) and will collectively work with the Alaska Energy Authority (AEA) to incorporate <br /> proven business concepts to create a cooperative to assist the railbelt region with critical <br /> transmission and generation needs; and <br /> WHEREAS, the stated purpose of ARCTEC is to provide all Railbelt electric utilities <br /> with access to sustainable and affordable energy in the future; and <br /> WHEREAS, to accomplish this purpose ARCTEC must fulfill short term and long term <br /> energy needs by acquiring adequate fuel supplies for existing generation, forging a path for <br /> future generation and concurrently developing and promoting renewable and alternative enegery <br /> generation as well as regional transmission projects; and <br /> WHEREAS, ARCTEC will best succeed based upon a partnership with all the utilities <br /> and state agencies under a unified business structure that incorporates rational economic decision <br /> ,., making, lowest financing costs and provides business continuity through technical competence <br /> and corporate leadership; and <br /> WHEREAS, the Railbelt electric grid has significant capital investment needs, and <br /> ARCTEC in cooperation with the Alaska Energy Authority (AEA) and state - assisted financing <br /> can provide the lowest cost financing and reduce the risk to individual utilities; and <br /> WHEREAS, ARCTEC can provide regional generation and transmission planning for <br /> the benefit of all Railbelt utility customers through an Integrated Resource Plan (IRP) process <br /> and this process will support rational funding decisions for future generation and transmission <br /> projects; and <br /> WHEREAS, through the ARCTEC planning process, all Railbelt utilities will benefit <br /> from increased reliability and over time ARCTEC will endeavor to transition away from the <br /> Railbelt's over - reliance on fossil fuels to a future that includes sustainable, diverse and <br /> affordable energy production; 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 <br /> the Railbelt electric utilities to manage and operate highly technical generation and transmission <br /> facilities; and <br />