UTILITIESAPPROVED

City of Westlake Resolution 3796 Gas Purchase

Westlake approves long‑term gas purchase from LMGA

City of WestlakeLOUISIANA MUNICIPAL NATURAL GAS PURCHASING & DISTRIBUTION AUTHORITY DBA LOUISIANA MUNICIPAL GAS AUTHORITYApril 20, 2026

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Description

The City of Westlake approved Resolution 3796 authorizing a long‑term Gas Sales Contract with the Louisiana Municipal Natural Gas Purchasing and Distribution Authority, d/b/a Louisiana Municipal Gas Authority, for the purchase of natural gas to serve Phillips 66’s plant under a prepaid gas bond structure. The contract runs for up to 366 months with defined daily quantities and minimum per‑MMBtu discounts tied to bond‑financed gas supplies from The Black Belt Energy Gas District.

Contract Details

Vendor

LOUISIANA MUNICIPAL NATURAL GAS PURCHASING & DISTRIBUTION AUTHORITY DBA LOUISIANA MUNICIPAL GAS AUTHORITY

Agency

City of Westlake, LA

Contract Type

UTILITIES

Document Date

April 20, 2026

Contract Term

Beginning [_____ ] 1, 2026 through [_____ ], 2056 (not greater than 366 months)

Renewal Date

2056-12-31

Renewal Info

Primary term ends on the Maturity Date of The Black Belt Energy Gas District’s Gas Project Revenue Bonds, with early termination if the Prepaid Gas Agreement ends or upon specified defaults. Pricing and quantities may be reset in five‑year Reset Periods via a Re‑Pricing Agreement, with options for remarketing and suspension/resumption of deliveries based on discount levels and downstream contract extensions.

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