Record #: O2011-4618   
Type: Ordinance Status: Passed
Intro date: 6/8/2011 Current Controlling Legislative Body: Committee on Budget and Government Operations
Final action: 7/6/2011
Title: Amendment of Municipal Code Section 2-40-030 regarding natural gas purchases
Sponsors: Emanuel, Rahm
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 40 Dept. of General Services
Attachments: 1. O2011-4618.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
June 8, 2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of General Services, I transmit herewith an ordinance amending Section 2-40-030 of the Municipal Code regarding natural gas purchases.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,

Mayor
/ ORDINANCE
WHEREAS, The City of Chicago is a home rule unit of government as defined in Article VII, ยง6(a) of the Illinois Constitution and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, The purchase of natural gas to supply City facilities and services is a matter pertaining to the government and affairs of the City of Chicago; and ^
WHEREAS, The City wishes to minimize the impact that fluctuating and rising natural gas prices will have on the City budget and to purchase natural gas in the wholesale market to obtain more advantageous pricing; and
WHEREAS, Such pricing mechanisms may include variable pricing, such as an exchange-based or index-based price methodology, in which the price the City pays at any given time for natural gas is based upon an index or exchange-traded price for a given delivery month, determined as of the date the City places an order for natural gas, or a fixed price, whereby the price the City pays for natural gas is fixed in an order placed for natural gas, or a combination of both variable and fixed pricing mechanisms; and
WHEREAS, The City further desires the ability to sell natural gas back to the supplier in such quantities as the City deems necessary in order to manage its store of natural gas such that the City remains in compliance with storage capacity requirements allocated to it by the City's natural gas local distribution company; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The above recitals are expressly incorporated...

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