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NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, <br />Virginia: <br /> <br /> (1) That competitive sealed bidding and competitive negotiation for the procurement <br />of Energy Services are not fiscally advantageous to the public because the procurement process <br />for Energy Services must be flexible enough to respond to quickly changing market conditions in <br />which energy prices can fluctuate considerably on a daily or even hourly basis; <br /> <br /> (2) That the aggregation and joint procurement of the Energy Services pursuant to the <br />Joint Powers Agreement is hereby approved; <br /> <br /> (3) That the provision of Steering Committee Services pursuant to the Joint Powers <br />Agreement is hereby approved; <br /> <br /> (4) That the Joint Powers Agreement and the performance of the terms and conditions <br />thereof on behalf of the City are hereby authorized and approved; <br /> <br /> (5) That the Interim City Manager is hereby authorized and directed to execute and <br />deliver the Joint Powers Agreement on behalf of the City; <br /> <br /> (6) That the payment obligations of the City pursuant to the provisions hereof and the <br />Joint Powers Agreement shall be subject to annual appropriation of requisite funds therefor by <br />the City Council; and <br /> <br /> (7) That this Resolution shall take effect on the date of its adoption. <br /> <br /> ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />May 14, 2002. <br /> <br /> Teste: <br /> <br /> City Clerk <br /> <br /> <br />