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ORDINANCE APPROYINGAN EXTENSION TO THE ASSET PURCHASE

AGREEMENT WITH PELICAN BAY UTILITY CO.,INC.

WHEREAS, the City of PelicanBay, Texas(the"Crty"), enteredinto anAssetPurchaseAgreement,

4, 1997(the"Agreement"),
executedas of September with the PelicanBay Utility Co., Inc;

WHEREAS, this City Councilherebyfinds anddetermines that it is necessaryandin thebestinterest

of the City of PelicanBay to authorizean extension
of thefinatpurchasedatesetforth in Agreement;and

WHEREAS, it is officially foundand determinedthat the meetingat which this ordinancehas been
consideredand acteduponwas opento the public and public noticeof the time, placeand subjectof said
meetingwas given,all as requiredby Tex. Gov't CodeAnn. ch. 551;Now, Therefore

BE IT ORDAINED BY THE CITY COT]NCILOF THE CITY OF PELICAN BAY:

Sectioni. Thedeclarations,
determrnations
andfindingsdeclared, madeandfoundin thepreambleto
this Ordinanceare herebyadopted,restatedandmadea part of the operativeprovisionshereof.

Section2. The Mayor is herebyauthorized anddirectedto executear agreement

with PelicanBay
Utihty Co., Inc., to extendthe final purchasedatesetforth in the Agreement.

Section3. All officersofthe City areauthorized

to takesuchactionsandto executesuchdocuments,
certificatesandreceiptsastheymaydeemnecessary andappropriatein orderto consummate
the executionand
deliveryof an extensionof theAgreement.

PASSED,APPROVEDAND EFFECTMEthisAugust 11th | 19.98

of PelicanBav. Texas

City of Pelican Bay,

lsEALI

D:\[g from tape 7-28-l 998\CLIENTS\PELIBAY\WSYSPttRC\DOCS\ordin-ext