Speaker 0: Item 26. Report from Long Beach. Gas and Oil Recommendation to execute and North American Energy Standards Board contract between the City of Long Beach and the City of Vernon for the purchase and sale of natural gas citywide.
Speaker 1: So a staff report.
Speaker 12: Vice Mayor Lowenthal giving the report is the director of gas and oil.
Speaker 5: Yes. Good evening, Honorable Vice Mayor. City Council Members. Agenda Item 26 seeks approval for a Naseby contract between the City of Vernon and the City of Long Beach. Recall the Long Beach gas prepaid was done with tax exempt bonds and to comply with the IRS requirements so that you can only buy and sell gas to customers of municipal utilities. The city of earning is one as well. If they have excess gas that they purchased for this use, they can only sell it to another municipality. The city of Long Beach is one. We can purchase their gas. They can purchase. Ah. So this contract allows that transaction to take place and maintain the tax exempt status of those bonds. Those prices would be at a price equal to or lower than the price that we are currently purchasing our gas under. So there is no impact as far as cost on the utility users in the city of Long Beach. And that concludes the staff report.
Speaker 1: Thank you. Was. It is a system still frozen or was there no emotion?
Speaker 0: We lost connection.
Speaker 1: Okay, so can I have a. You'd like to leave early because we've lost connection, of course. Is there a verbal. There we go. Councilmember Richardson. And who's the second or verbally? That was the last item. This is it. Okay.
Speaker 10: We just voted.
Speaker 1: We did. Did you both not want to support this current motion? No. Okay. Right. But for 26. More voices, please.
Speaker 9: So we need a motion.
Speaker 1: So Councilmember Richardson moved and Councilmember Austin seconded. So any member of the public that wish to address council on item 26. Seeing members cast your vote. All those in favor. Any opposed? Thank you. Next item is a 26.
Recommendation to authorize City Manager to execute a North American Energy Standards Board contract between the City of Long Beach and the City of Vernon for the purchase and sale of natural gas.  (Citywide)