NAC538.500. Term of contracts; expiration and renewal.

     1. Contracts for the delivery of long-term power from the Boulder Canyon Project allocated under NAC 538.340 to 538.740, inclusive, become effective on the day they are executed and expire on the last day of the billing period for September 2017, unless terminated before that date by the contractor or the Commission in accordance with the terms of the contract.

     2. Contracts for the delivery of long-term power from the Parker-Davis Project allocated under NAC 538.340 to 538.740, inclusive, become effective on the day they are executed and expire on the last day of the billing period for September 2028, unless terminated before that date by the contractor or the Commission in accordance with the terms of the contract.

     3. Contracts for the delivery of long-term power from the Salt Lake City Area Integrated Projects allocated under NAC 538.340 to 538.740, inclusive, become effective on the first day of the billing period for October 1989 and expire on the last day of the billing period for September 2024, unless terminated before that date by the contractor or the Commission in accordance with the terms of the contract.

     4. The term of contracts for short-term power will be determined by the Executive Director of the Commission for each contract.

     5. The Commission will, upon the expiration of a contract described in subsection 1, offer to the contractor the right to renew the contract. This right is subject to the conditions set forth in subsection 7 of NRS 538.181 and the terms for such renewal provided in the contract.

     (Added to NAC by Colorado River Comm’n, eff. 9-13-85; A 11-24-87; 12-17-87; R123-00, 2-15-2001; R108-06, 6-28-2006)