Resolution concerning Divestiture, Adopted
by Brazos River Authority Board of Directors on 17 July 2007
“WHEREAS
the Board recognizes that divestiture has received considerable
legislative support and will continue to be an issue
in the future; and
WHEREAS the Board has
consulted with additional outside legal counsel regarding whether
divestiture is a viable option under
current
law; and
WHEREAS the Board believes
that if the Authority is to divest, the most favorable way for this to
happen is under terms and conditions
as set by the Board, so as to ensure that the divestiture process
involves a willing buyer/willing seller scenario;
NOW, THEREFORE, BE
IT RESOLVED that the Board of
Directors of the Brazos River Authority hereby directs staff to develop
a process for the sale of leased residential properties at Possum
Kingdom Lake to lessees, excluding property within the
FERC project area, for subsequent consideration by the Board of
Directors