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RES-2008-175RESOLUTION NO. 2008- 175 RESOLUTION OF THE CITY OF ANAHEIM (I) AUTHORIZING OFFICIALS TO EXECUTE AND DELIVER THE CANYON POWER PROJECT POWER SALES AGREEMENT AND (II) APPROVING THE ISSUANCE OF CANYON POWER PROJECT REVENUE BONDS BY THE SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY. WHEREAS, in accordance with Ordinance No. 6118 of the City of Anaheim (the "City the Council of the City of Anaheim has authorized entering into the Canyon Power Project Power Sales Agreement (the "Power Sales Agreement a form of which has been submitted to the City, between the City and the Southern California Public Power Authority (the "Authority and WHEREAS, under the Power Sales Agreement, the City will be entitled to 100% of the capacity and energy in the Canyon Power Project, a natural gas -fired generating facility and associated facilities to be owned by the Authority and to be located in the City (the "Canyon Power Project and WHEREAS, payments by the City, pursuant to the Power Sales Agreement, will be used in part for payment of the principal of, premium, if any, and interest on certain bonds, notes or other evidences of indebtedness issued by the Authority "SCPPA Canyon Power Project Revenue Bonds to finance the construction and acquisition of the Canyon Power Project; and WHEREAS, the City desires to approve the issuance of SCPPA Canyon Power Project Revenue Bonds by the Authority, for the benefit of the City, for the purpose of financing the construction and acquisition of the Canyon Power Project. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANAHEIM AS FOLLOWS: 1. Each of the Public Utilities General Manager and the Public Utilities Assistant General Manager Finance and Administration of the City is hereby authorized to execute and deliver the Power Sales Agreement with such changes, insertions and omissions as shall be approved by the official executing such agreements (such approval to be conclusively evidenced by such execution), and the City Clerk is hereby authorized to attest to such signature. 2. The issuance and sale by the Authority, from time to time, in one or more installments, of its SCPPA Canyon Power Project Revenue Bonds for the financing and/or refinancing of the construction and acquisition of the Canyon Power Project (and any improvement, repairs or expansion), outstanding at any one time in accordance with their terms in a maximum aggregate principal amount of $320,000,000, is hereby approved. The SCPPA Canyon Power Project Revenue Bonds, and premium and interest thereon, are to be payable from, and secured by, funds held in trust for the benefit of the holders of SCPPA Canyon Power Project Revenue Bonds and from revenues of the Authority from the Canyon Power Project, consisting primarily of payments received by the Authority from the City under the Power Sales Agreement. 3. Each of the officials referred to in paragraph 1 above is hereby authorized to execute and deliver any and all other documents and instruments and to do and cause to be done any and all acts and things necessary or advisable for carrying out the transactions contemplated by this Resolution, including the Authority's financing of the Canyon Power Project for the benefit of the City. AYES: NOES: NONE ABSTAIN: NONE ABSENT: NONE ATTEST: 70051.2 4. This Resolution shall become effective immediately upon adoption. THE FOREGOING RESOLUTION was approved and adopted by the City Council of the City of Anaheim at a regular meeting of said City Council held on the 14th day of October 2008, by the following roll call vote: Mayor Pringle, Council Members Hernandez, Sidhu, Galloway, Kring CITY CLERK OF THE CITY OF ANAHEIM CITY O AHEIM MAYOR OF THE F ANAHEIM STATE OF CALIFORNIA COUNTY OF ORANGE CITY OF ANAHEIM I, Linda N. Andal, City Clerk of the City of Anaheim, do hereby certify that the foregoing Resolution No. 2008- 175 was introduced and adopted at a regular meeting of the City Council of the City of Anaheim duly called, noticed and held on the 1 4thday of October 2008, by the following vote of the members thereof: Mayor Pringle, AYES: COUNCIL MEMBERS: Hernandez, Galloway, Sidhu, Kring NOES COUNCIL MEMBERS: NONE ABSENT: COUNCIL MEMBERS: NONE AND I FURTHER certify that the Mayor of the City of Anaheim signed said Resolution No. 2008 -175 on the 14th day of October 2008. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the City of Anaheim this 14th day of October 2008. (SEAL) 70051.2 CITY CLERK OF THE CITY OF ANAHEIM