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4434[Note: Ordinance to be adopted after Bonds Ordinance.] ORDINANCE NO. 4434 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 entered or will enter into agreements to acquire rights to capacity in a project to provide for the trans- mission of electric energy, which project is to consist of a +/- 500 KV DC transmission line from the generation station of the Intermountain Power Project to near Adelanto, California, together with associated facilities; 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 and other evidences of indebted- ness (including renewal notes) (the "Notes") to be outstanding at any one time in accordance with their terms in the estimated maximum aggregate principal amount of $500,000,000, each to mature within ten years from the date of issuance thereof, for the purpose of temporary financing of the acquisition of such capacity rights in the Project; and WHEREAS, the Authority proposes to issue its revenue bonds and other evidences of indebtedness (the "Acquisition Bonds") for the purpose of providing funds for the acquisition of such capacity rights in the Project; and WHEREAS, notwithstanding the aforesaid estimated maximum aggregate principal amount of Notes proposed to be issued by the Authority for the acquisition of such capacity rights in the Project and to be outstanding at any one time in accordance with their terms, additional Notes may be required to complete the financing of the acquisition of capacity rights in the Project; and WHEREAS, the Authority has entered or will enter into agreements (the "Transmission Service Contracts") with two or more of the Members, pursuant to which the Members entering into such Transmission Service Contracts (the "Transmission Project Participants") will, in the aggregate, acquire rights to transmission service utilizing facilities of the Project; and WHEREAS, the Notes are to be renewable from time to time and payable from proceeds of the Acquisition Bonds and, to the extent not so paid, may be payable from revenues of the Authority from the acquisition of capacity rights in the Project, including payments to be made by the Transmission Project Participants under the Transmission Service Contracts; and WHEREAS, in accordance_ with the Joint Powers Act, the exer- cise by the Authority of its power to issue the Notes is subject to the authorization of such issuance by the 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 acquisi- tion of capacity rights in the Project by the Authority is appropri- ate to assist the Transmission Project Participants to transmit capacity and energy from their resources in meeting the future power needs of their customers for electric energy by providing transmis- sion capability; and WHEREAS, this City Council has authorized by Ordinance the issuance and sale by the Authority of its Acquisition Bonds, the pro- ceeds from the sale of which are to be used for the acquisition of capacity rights in the Project, including interest on such Acquisition Bonds and deposits to reserves, and to pay the principal, premium, if any, and interest on the Notes authorized by this Ordinance when due. 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 for the purpose of temporary financing of the acquisition of capac- ity rights in the Project, outstanding at any one time in accordance with their terms in a maximum aggregate princi- pal amount of $500,000,000 is hereby authorized. Notwithstanding such maximum aggregate principal amount, the Authority is hereby authorized to issue additional principal amounts of Notes if and to the extent required to complete the financing of the acquisition of capacity rights in the Project. The proceeds from the sale of the Notes hereby authorized are to be used for the financing of the acquisition of capacity rights in the Project, including interest on the Notes. The Notes hereby -2- 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 Acquisition Bonds of the Authority and, to the extent not so paid, may be payable from reve- nues of the Authority from the acquisition of capacity rights in the Project, including payments received by the Authority from the Transmission Project Participants under the Transmission Service Contracts. 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 31st day of 11aY , 1983. Mayor ATTEST: City Clerk -3- 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. 4434 was introduced at a regular meeting of the City Council of the City of Anaheim, held on the 24th day of May, 1983, and that the same was duly passed and adopted at a regular meeting of said City Council held on the 31st day of May, 1983, by the following vote of the members thereof: AYES: COUNCIL MEMBERS: Kaywood, Pickler, Overholt, Bay and Roth NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: None AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Ordinance No. 4434 on the 31st day of May, 1983. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim this 31st day of May, 1983. OL2 OoQ��� CITY LERK OF THE CITY*F ANAHEIM (SEAL) I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the original Ordinance No. 4434 and was published once in the Anaheim Bulletin on the 10th day of June, 1983. NOTICE OF ORDINANCE SUBJECT TO REFERENDUM CITY OF ANAHEIM ORDINANCE NO. 4434 ADOPTED BY THE CITY COUNCIL OF THE CITY OF ANAHEIM ON May 31 , 1983 Notice is hereby given that at a regular meeting of the City Council of the City of Anaheim (the "City Council"), held on May 31 , 1983, Ordinance No. 4434 (the "Ordinance") was adopted. The title and a summary of the Ordinance are set forth below. The Ordinance is subject to referendum, as discussed below. Title ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ANAHEIM AUTHORIZING THE ISSUANCE OF NOTES BY SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY. Summary Pursuant to the Ordinance, the City Council has authorized the issuance and sale by Southern California Public Power Authority (the "Authority") of its Notes, each to mature within ten years from the date of issuance thereof, to be issued, from time to time, in one or more installments, in an estimated aggregate principal amount out- standing at any one time in accordance with their terms of $500,000,000 and to bear interest at a probable overall rate of 10% per annum, payable semiannually on January 1 and July 1 in each year. The actual interest rates on each installment of such Notes or the method of determining such rates will be determined by the Board' of Directors of the Authority in accordance with law at the time of issuance of such installment. Notwithstanding such maximum aggregate principal amount of Notes, the Authority is authorized, pursuant to the Ordinance, to issue additional principal amounts of its Notes if and to the extent required to complete the financing of the acquisi- tion of capacity rights in the Project discussed below. The Authority was created pursuant to a Joint Powers Agreement (the "Agreement") heretofore entered into between the City Council of the City of Anaheim and certain other public agencies cre- ated pursuant to the laws of the State of California (collectively, the "Members") 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 Authority is a public entity separate and apart from the Members. The Authority, in accordance with the Joint Powers Act and the Agreement, has entered or will enter into agreements to acquire rights to capacity in a project to provide for the transmission of electric energy, which project is to consist of a +/- 500 KV DC transmission line from the generation station of the Intermountain Power Project to near Adelanto, California, together with associated facilities (the "Project"). The Authority has entered or will enter into agreements (the "Transmission Service Contracts") with two or more of the Members, pursuant to which the Members entering into such Transmission Service Contracts (the "Transmission Project Participants") will, in the aggregate, acquire rights to transmission service utilizing the facilities of the Project. The City Council heretofore has authorized, by ordinance, the issuance and sale by the Authority of its Acquisition Bonds to provide funds for the financing of the acquisition of capacity rights in the Project. The Acquisition Bonds are to be payable from funds held in trust for the benefit of the holders of such Bonds and from revenues of the Authority from the acquisition of capacity rights in the Project, including payments to be made by the Transmission Project Participants under the Transmission Service Contracts. Neither the payment of principal of the Notes nor any part thereof nor interest thereon will constitute a debt, liability or obligation of the City of Anaheim. The City Council has determined that the acquisition of capacity rights in the Project by the Authority is appropriate to assist the Transmission Project Participants in meeting the future power needs of their customers for electric energy by providing transmission capability. THE AUTHORITY PROPOSES TO ISSUE, IN ACCORDANCE WITH THE AGREEMENT AND THE JOINT POWERS ACT, ITS NOTES TO PROVIDE FUNDS FOR THE FINANCING OF THE ACQUISITION OF CAPACITY RIGHTS IN THE PROJECT. THE NOTES ARE TO BE PAYABLE FROM THE PROCEEDS OF THE ACQUISITION BONDS AND, TO THE EXTENT NOT SO PAID, MAY BE PAYABLE FROM REVENUES OF THE AUTHORITY FROM THE ACQUISITION OF CAPACITY RIGHTS IN THE PROJECT, INCLUDING PAYMENTS TO BE MADE BY THE PARTICIPANTS UNDER THE TRANSMIS- SION SERVICE CONTRACTS. THE ORDINANCE AUTHORIZING THE ISSUANCE OF THE NOTES IS SUBJECT TO REFERENDUM. UPON PRESENTATION (WITHIN THE TIME PERIOD SPECIFIED BY LAW) OF A PETITION (BEARING SIGNATURES, IN AT LEAST THE NUMBER REQUIRED BY THE LAW) PROTESTING AGAINST THE ADOPTION OF THE ORDINANCE, THE CITY COUNCIL IS REQUIRED TO RECONSIDER THE ORDINANCE. THEREUPON, IF THE CITY COUNCIL DOES NOT ENTIRELY REPEAL THE ORDINANCE, THE ORDINANCE SHALL BE SUBMITTED (UNDER BALLOT WORDING PRESCRIBED BY LAW) TO THE VOTERS AT A REGULAR OR SPECIAL ELECTION AND THE ORDINANCE SHALL NOT BECOME EFFECTIVE UNTIL A MAJORITY OF THE VOTERS VOTING ON THE ORDINANCE VOTE IN FAVOR OF IT. THE FOREGOING DESCRIPTION OF THE PROCEDURES FOR REFERENDUM IS BASED UPON THE APPLI- CABLE REFERENDUM PROVISIONS OF THE CALIFORNIA ELECTIONS CODE AND THE CALIFORNIA GOVERNMENT CODE. REFERENCE IS MADE TO THE CALIFORNIA ELECTIONS CODE AND THE CALIFORNIA GOVERNMENT CODE FOR A COMPLETE STATEMENT OF SUCH PROVISIONS. -2- ORDINANCE NO.4434 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 entered or will enter into agreements to acquire rights to capacity in a project to provide for the trans- mission of electric eneray, which project is to consist of a +/- 500 RV DC transmission line from the generation station of the Intermountain Power Project to near Adelanto, California, together with associated facilities; and WHEREAS, the Authority proposes to issue, in accordance with the Agreement and the Joint Powers Act, from time to tire, in one or more installments, its notes and other evidences of indebted- ness (including renewal notes) (the "Notes") to be outstanding at any one time in accordance with their terms in the estimated maximum aggregate principal amount of $500,000,000, each to Nature within ten years from the date of issuance thereof, for the purpose of temperary financing of the acquisition of such capacity rights in the Project; and WHEREAS, the Authority proposes to issue its revenue bonds and other evidences of indebtedness (the "Acquisition Bonds") for the purpose of providing funds for the acquisition of such capacity rights in the Project; and WHEREAS, notwithstanding th aggregate principal amount of Notes Authority for the acquisition of such and to be outstanding at any one time additional Notes may be required to acquisition of capacity rights in th e aforesaid estimated maximum proposed to be issued by the capacity rights in the Project in accordance with their terms, complete the financing of the e Project; and WHEREAS, the Authority has entered or will enter into agreements (the "Transmission Service Contracts"') with two or more of the Members, pursuant to which the Members entering into such Transmission Service Contracts (the "Transmission Project Participants") will, in the aggregate, acquire rights to transmission service utilizing facilities of the Project; and WHEREAS, the Notes are to be renewable from time to time and payable from proceeds of the Acquisition Bonds and, to the extent not so paid, may be payable from revenues of the Authority from the acquisition of capacity rights in the Project, including payments to be made by the Transmission Project Participants under the Transmission Service Contracts; and WHEREAS, in accordance with the Joint Powers Act, the exer- cise by the Authority of its power to issue the Notes is subject to the authorization of such issuance by. the 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 acquisi- tion of capacity rights in the Project by the Authority is apprcpri- ate to assist the Transmission Project Participants to transmit capacity and energy from their resources in meeting the future power needs of their customers for electric energy by providing transmis- sion capability; and WHEREAS, this City Council has authorized by Ordinance the issuance and sale by the Authority of its Acquisition Bonds, the pro- ceeds from the sale of which are to be used for the acquisition of capacity rights in the Project, including interest on such Acquisition Bonds and deposits to reserves, and to pay the principal, premium, if any, and interest on the Notes authorized by this Ordinance when due. 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 for the purpose of temporary financing of the acquisition of capac- ity rights in the Project, outstanding at any one time in accordance with their terms in a maximum aggregate princi- pal amount of $500,000,000 is hereby authorized. Notwithstanding such maximum aggregate principal amount,,, the Authority is hereby authorized to issue additional principal amounts of Notes if and to the extent required to complete the financing of the acquisition of capacity rights in the Project. The proceeds from the sale of the Notes hereby authorized are to be used for the financing of the acquisition of capacity rights in the Project, including interest on the Notes. The Notes hereby -2- 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 Acquisition Bonds of the Authority and, to the extent not so paid, may be payable from reve- nues of the Authority from the acquisition of capacity rights in the Project, including payments received by the Authority from the Transmission Project Participants under the Transmission Service Contracts. 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 12th day of Ju y , 1983. Mayor ATTEST: LINDA D. ROBERTS, CITY CLERK Assistant City Clerk -3- 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. 4434 was introduced at a regular meeting of the City Council of the City of Anaheim, held on the 24th day of May, 1983, and that the same was duly passed and adopted at a regular meeting of said City Council held on the 31st day of May, 1983, was reintroduced at a regular meeting of the City Council of the City of Anaheim, held on the 5th day of July, 1983, and that the same was duly passed and readopted at a regular meeting of said City Council held on the 12th day of July, 1983, by the following vote of the members thereof: AYES: COUNCIL MEMBERS: Kaywood, Pickler, Overholt, Bay and Roth NOES: COUNCIL MEMBERS: None ABSENT: COUNCIL MEMBERS: None AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Ordinance No. 4434 on the 12th day of July, 1983. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Anaheim this 12th day of July, 1983. LINDA D. ROBERTS, CITY CLERK BY ASSISTANT 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. 4434 and was published once in the Anaheim Bulletin on the 22nd day of July, 1983. LINDA D. ROBERTS, CITY CLERK BY Zalft I ASSISTANT CITY CLERK --•.