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RESOLUTION NO. 1-11 <br />A RESOLUTION AUTHORIZING THE CONTINUED PARTICIPATION IN THE <br />NORTHERN ILLINOIS MUNICIPAL ELECTRIC COOPERATIVE (NIMEC) AND <br />AUTHORIZING THE VILLAGE MANAGER TO APPROVE A CONTRACT WITH <br />THE LOWEST COST ELECTRICITY PROVIDER <br />WHEREAS, during fiscal year 2006, the Village of Elk Grove Village joined the <br />Northern Illinois Municipal Electric Cooperative (NIMEC) to jointly purchase electricity from <br />a third -party vendor in response to the deregulation of this industry in the State of Illinois; and <br />WHEREAS, the Village of Elk Grove Village has selected the Northern Illinois <br />Municipal Electric Cooperative (NIMEC) to serve as the Village's broker relative to the <br />acquisition of electrical energy due to NIMEC'S municipal experience and the fact that <br />NIMEC is a municipal cooperative which will be pooling the energy needs of members of the <br />cooperative in order to secure more competitive pricing based on higher volumes than can be <br />provided individually to a single municipality; and <br />WHEREAS, NIMEC is preparing to seek competitive pricing for electricity for the <br />period June 1, 2011 through May 31, 2012; and <br />WHEREAS, due to the bidding procedures required, the Village Manager or in his <br />absence the Director of Public Works will need to have the authority to sign a contract with <br />the electricity provider which is deemed most favorable for the Village within hours of the <br />bids being received by NIMEC. <br />NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the <br />Village of Elk Grove Village, Counties of Cook and DuPage, Illinois: <br />Section 1. That the Northern Illinois Municipal Electric Cooperative (NIMEC) is hereby <br />appointed as the Village's broker for purposes of obtaining a supply of electricity for the <br />