The Argos Town Council held a public workshop prior to their regularly scheduled meeting on Wednesday, January 15th.
The purpose of the workshop was to meet with an Indiana Municipal Power Agency (IMPA) representative and to discuss some proposed contract amendments.
During the regular meeting, members were presented with an associated ordinance and Town Attorney Derek Jones provided a brief synopsis about what’s being suggested.
He explained, “The current expiration is 2042. It has a ten-year notice to terminate the contract. The request from IMPA is to extend that contract now to an expiration of 2050. It would also have a 30-year notice termination date.”
A contract extension with those same terms was approved by officials in the Town of Winamac back in October. Jones shared the motivation behind why the company is asking municipalities to make these contract adjustments.
He noted, “The rationale here is that it allows IMPA to be able to finance projects for new energy facilities that are definitely going to be required for them to keep producing power.”
The ordinance received unanimous support on first reading and will be considered again when the Argos Town Council meets in February.
