The city council finds that the joint operating agency should accomplish its purposes by exercising the rights and powers provided in Chapter 722, Oregon Laws, 1973, including the organization of a board of directors and such committees thereof as may be required, appointing such staff as may be necessary to carry out the duties specified by the board of directors, preparing analyses, projections, forecasts and studies of required electrical needs and resources, developing proposals for providing adequate generation and transmission resources, negotiating for and entering into contracts for the supply of energy, power or capacity whether by the construction or other acquisition of facilities or participation in or purchase from other entities or facilities, entering into contracts for transmission, reserves and other services related to the operation of such facilities, negotiating for and entering into power sales and purchase contracts with its members and other publicly and privately owned utilities, electrical cooperatives, and governmental agencies, and providing financial support for such activities. No specific utility project is presently identified as a proposed activity of the joint operating agency. (See Ord. 3717 §6, 1974). (Ord. 4987, 2015).