5375F1
ORDINANCE NO. 5375
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM, CALIFORNIA AMENDING CERTAIN
PROVISIONS OF ORDINANCE NO. 5032 OF THE CITY
COUNCIL RELATED TO ELECTRIC REVENUE
ANTICIPATION NOTES
WHEREAS, pursuant to Ordinance No. 5032 adopted June 20,
1989 ("Ordinance No. 5032"), the City Council of the City of
Anaheim has previously provided procedures for the issuance, sale
and securing of electric revenue anticipation notes; and
WHEREAS, the City Council desires to amend Ordinance No.
5032 to provide for the issuance and sale of electric revenue
anticipation notes to finance and refinance the costs of
acquisition and construction of additions to and improvements of
its Electric System;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM
DOES ORDAIN AS FOLLOWS:
Section 1. The second "WHEREAS" clause of Ordinance No.
5032 is hereby amended to read, in its entirety, as follows:
WHEREAS, the City of Anaheim makes
expenditures to maintain, repair and operate
its Electric System, among which are the
purchase of power and costs associated with
the acquisition, processing, enrichment,
storage and disposal of nuclear fuel, and to
pay the costs of acquisition and construction
of additions to and improvements of its
Electric System; and
Section 2. The fourth "WHEREAS" clause of Ordinance No.
5032 is hereby amended to read, in its entirety, as follows:
WHEREAS, the City Council has determined
that it is in the best interests of the City
of Anaheim to issue and sell electric revenue
anticipation notes pursuant to said Section
1210 of the Charter to finance and refinance
expenditures made or to be made in the
maintenance, repair and operation of its
Electric System, including the purchase of
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power and costs associated with the
acquisition, processing, enrichment, storage
and disposal of nuclear fuel, and expenditures
made or to be made to pay the costs of,
acquisition and construction of additions to
and improvements of its Electric System; and
Section 3. Section 2 of Ordinance No. 5032 is hereby
amended to read, in its entirety, as follows:
In accordance with Section 1210 of the
Charter, there is hereby prescribed a
procedure for the sale, issuance and securing
from time to time of the Notes. The principal
amount of the Notes Outstanding in accordance
with their terms together with the principal
amount of the 1983 Notes outstanding in
accordance with their terms at any one time
shall not exceed 25% of the gross revenue
earned by the Electric System during the
immediately preceding fiscal year as set forth
in the audited financial statements of the
Electric System for such year or the maximum
aggregate amount of the revolving Electric
System Credit available to the City as
described in the Revolving Credit Agreement,
whichever is less. The Notes shall be known
as City of Anaheim Electric Revenue
Anticipation Notes" and shall be sold, secured
and issued on such terms and conditions as are
hereinafter set forth, for the purpose of
financing and refinancing expenditures made or
to be made in the maintenance, repair and
operation of its Electric System, including
the purchase of power and costs associated
with the acquisition, processing, enrichment,
storage and disposal of nuclear fuel, and
expenditures made or to be made to pay the
costs of acquisition and construction of
additions to and improvements of its Electric
System.
Section 4. Section 3(a) of Ordinance No. 5032 is hereby
amended to read, in its entirety, as follows:
(a) Municipal Affairs. The financing and
refinancing of expenditures made or to be made
in the maintenance, repair and operation of
its Electric System, including the purchase of
power and costs associated with the
acquisition, processing, enrichment, storage
and disposal of nuclear fuel, and expenditures
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made or to be made to pay the costs of
acquisition and construction of additions to
and improvements of its Electric System, are
incidental to the generation and transmission
of electric energy by the City and as such
constitute municipal affairs of the City which
are not statewide concerns.
Section S. General Authorization. The Public Utilities
General Manager, each other official who may be an Authorized
Person, the Mayor, the City Clerk and the City Attorney are hereby
respectively authorized to do and perform from time to time any and
all acts and things consistent with this Ordinance necessary or
appropriate to carry the same into effect.
Section 6. Publication. The City Clerk shall cause this
Ordinance to be published once, within fifteen days after its
adoption, in The Anaheim Bulletin, the official newspaper of the
City.
Section 7. Effective Date. This Ordinance shall become
effective on the first day that (i) all Notes outstanding on the
date of adoption of this Ordinance are no longer outstanding and
(ii) thirty days from the date of its adoption have passed. Notes
issued after adoption of this Ordinance, but before its effective
date, shall (i) until said effective date, be subject to Ordinance
No. 5032, and (ii) on and after said effective date, be subject to
Ordinance No. 5032 as amended by this Ordinance. Except as amended
in accordance herewith, Ordinance No. 5032 remains in full force
and effect.
ADOPTED, SIGNED AND APPROVED this 22nd day of June, 1993.
Mayor of the City o Anah m
( SEAL)
ATTEST:
C�—
City Clerk of the City of
Anaheim
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CLERK
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby
certify that the foregoing Ordinance No. 5375 was introduced at a
regular meeting of the City Council of the City of Anaheim, held on
the 15th day of June 1993, and that the same was duly passed and
adopted at a regular meeting of said City Council held on the 22nd
day of June, 1993, by the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Feldhaus, Hunter, Pickler, Simpson, Daly
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER certify that the Mayor of the City of Anaheim signed
said Ordinance No. 5375 on the 23rd day of June, 1993.
IN WITNESS WHEREOF, I have set my hand and affixed the seal of the
City of Anaheim this 23rd of June, 1993.
CITY CLERK
OF THE CITY OF ANAHEIM
( SEAL)
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