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4310ORDINANCE NO. 4310 ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ANAHEIM AUTHORIZING THE ISSUANCE OF NOTES BY SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY WHEREAS, pursuant to the provisions of Chapter 5, Division 7, Title 1 of the Government Code of the State of California, as amended (the "Joint Powers Act"), the City of Anaheim and certain other public agencies created pursuant to the laws of the State of California (collectively, the "Members"), have entered into a Joint Powers Agreement (the "Agreement") creating the Southern California Public Power Authority (the "Authority"), a public entity separate and apart from the Members; and WHEREAS, in accordance with the Agreement and the Joint Powers Act, the Authority has undertaken or will undertake to, among other things, incur preliminary costs, make (or cause to be made) studies and acquire (or cause to be acquired) options and permits ("Development Work") in connection with a project for the transmission of electric energy, which project (the "Project") is the Mead -Phoenix DC Intertie, a +/- 500 KV DC transmission line with AC/DC converter stations at each end and related facilities, to be located in the States of Arizona and Nevada; and WHEREAS, the Authority proposes to issue, in accordance with the Agreement and the Joint Powers Act, from time to time, in one or more installments, its notes or other evidences of indebtedness (the "Notes") to be outstanding at any one time in accordance with their terms in the estimated maximum aggregate principal amount of $15,000,000, to mature on or before December 31, 1991, for the purpose of financing of the costs of the Authority for the Project, including costs of Development Work, costs of issuance and interest on the Notes; and WHEREAS, upon the satisfactory conclusion of the Develop- ment Work and the occurrence of certain other events, the Authority proposes to issue its Transmission Project Revenue Bonds for the purpose of providing funds for the acquisition, construction and financing of the Authority's interest in the Project; and WHEREAS, notwithstanding the aforesaid estimated maximum aggregate principal amount of Notes proposed to be issued by the Authority and to be outstanding at any one time in accordance with their terms, additional Notes may be required to complete the financing of such costs of the Authority for the Project; and -2 - WHEREAS, the Authority has entered or will enter into agreements (the "Project Development Agreements") with two or more of the Members and other entities pursuant to which the Members and other entities entering into such Project Development Agree- ments (collectively, the "Development Participants") will, in the aggregate, undertake to pay to or on behalf of the Authority 100% of such costs of the Authority for the Project; and WHEREAS, the Notes are to be renewable from time to time and payable from proceeds of the Transmission Project Revenue Bonds and, to the extent not so paid, from revenues of the Authority from the Project, including payments to be made by the Development Participants under the Project Development Agreements; and WHEREAS, in accordance with the Joint Powers Act, the exercise by the Authority of its power to issue the Notes is subject to the authorization of such issuance by Members pursuant to Ordinance; and WHEREAS, neither the payment of principal of the Notes nor any part thereof nor interest thereon shall constitute a debt, liability or obligation of the City of Anaheim; and WHEREAS, this City Council has determined that the undertaking by the Authority of the Project is appropriate to assist the Development Participants to, among other things, realize the savings in fixed and operating costs and economies of scale of large DC transmission facilities. NOW, THEREFORE, the City Council of the City of Anaheim does ordain as follows: 1. The issuance and sale by the Authority from time to time, in one or more installments, of its Notes outstanding at any one time in accordance with their terms in a maximum aggregate principal amount of $15,000,000 is hereby authorized. The proceeds from the sale of the Notes hereby authorized are to be used for the financing of the costs of the Authority for the Project, including costs of Development Work, costs of issuance and interest on the Notes. The Notes hereby authorized are to be renewable from time to time and such Notes, and premium, if any, and interest thereon, are to be payable from proceeds of the Trans- mission Project Revenue Bonds of the Authority and, to the extent not so paid, from revenues of the Authority from the Project, including payments received by the Authority from the Development Participants under the MCC Project Development Agreements. Notwithstanding the maximum aggregate principal amount of Notes set forth above, the Authority is hereby authorized to issue additional principal amounts of Notes if and to the extent required to complete the financing of such costs of the Authority for the Project. 2. Pursuant to Section 6547 of the Joint Powers Act, this Ordinance is subject to the provisions for referendum prescribed by Section 3751.7 of the Elections Code of the State of California. 3. The City Clerk shall certify to the enactment of this Ordinance and shall cause notice of the same to be published in accordance with Section 6040.1 of the Government Code of the State of California for five (5) consecutive days within fifteen (15) days of its enact- ment, in the Anaheim Bulletin, a daily newspaper of general circulation, published in the City of Anaheim, and sixty (60) days from and after its enactment it shall take effect and be in full force, in the manner provided by law. THE FOREGOING ORDINANCE is approved, enacted and adopted by the City Council of the City of Anaheim, this 23rd day of February , 1982. ATTEST: LINDA D. ROBERTS, CITY CLERK Deputy City Clerk STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF ANAHEIM ) I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that the foregoing Ordinance No. 4310 was introduced at a regular meeting of the City Council of the City of Anaheim, held on the 16th day of February, 1982, and that the same was duly passed and adopted at a regular meeting of said City Council held on the 23rd day of February, 1982, by the following vote of the members thereof: AYES: COUNCIL MEMBERS: Overholt, Kaywood, Bay and Seymour NOES: COUNCIL MEMBERS: Roth ABSENT: COUNCIL MEMBERS: None AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Ordinance No. 4310 on the 23rd day of February, 1982. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim this 23rd day of February, 1982. LINDA D. ROBERTS, CITY CLERK BY DEPUTY CITY CLERK (SEAL) I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original Ordinance No. 4310 and was published once in the Anaheim Bulletin on the 5th day of March, 1982. LINDA D. ROBERTS, CITY CLERK BY DEPUTY CITY CLERK �'