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 .
|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.)