HomeMy WebLinkAbout9953 - Oil Purchase AgreementL
• RESOLUTION NO. 9953
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH GIVING NOTICE OF TERMINATION
TO KERN COUNTY REFINERY, INC., OF EXISTING OIL
PURCHASE AGREEMENT AND AUTHORIZING STAFF TO
NEGOTIATE A NEW OIL PURCHASE AGREEMENT
WHEREAS, the City Council of the City of Newport Beach
on March 22, 1976, authorized the execution of an agreement
between the City of Newport Beach and Kern County Refinery, Inc.,
for the purchase of crude oil; and
WHEREAS, said agreement provides for a division of the
payment for crude oil delivered, 7/8 to Armstrong Petroleum
Corporation and 1/8 to the City of Newport Beach; and
WHEREAS, the City of Newport Beach intends to operate
the oil fields of the City of Newport Beach as of January 26,
1981, and said division of purchase price would be rendered
inappropriate; and
WHEREAS, it is desirable to terminate said agreement
with Kern County Refinery, Inc., and to authorize the staff of
the City of Newport Beach to negotiate a new crude oil purchase
contract,
NOW, THEREFORE, BE IT RESOLVED by the City Council of
• the City of Newport Beach that said agreement between the City of
Newport Beach the Kern County Refinery, Inc., be terminated,
• effective 11:59 p.m. January 25, 1981. The City Clerk is hereby
authorized and directed to prepare and serve on Kern County
Refinery, Inc., a notice of termination as provided in said
agreement.
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BE IT FURTHER RESOLVED that the City Council of the City
of Newport Beach hereby authorizes and directs the staff of the
City of Newport Beach to enter into negotiations for a new crude
oil purchase contract, to be effective January 26, 1981.
ADOPTED this 22nd day of npremhpr , 1980.
ATTEST:
City Clerk
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HRC /kv
122280