94-108 RESOLUTION NO. 94R-108
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF ANAHEIM, CALIFORNIA, AUTHORIZING CERTAIN
EXPENDITURES WITH RESPECT TO THE CITY'S ELECTRIC UTILITY SYSTEM
TO BE REIMBURSED FROM FUTURE FINANCING
WHEREAS, the city of Anaheim (the "City") has
undertaken the design, planning, and installation of thermal
energy storage systems program and the lighting efficiency
equipment program in connection with the City's Partners in
Energy Efficiency Program and the planning, development,
purchase, construction, repair and replacement of facilities for
the transmission and distribution of electric energy
(collectively, the "Program"); and
WHEREAS, the city has begun or will begin to make
expenditures with respect to costs of the Program; and
WHEREAS, the city intends to make arrangements to
finance the costs of the Program through the Financing Authority
for Resource Efficiency of California, which financing may be
structured so as to bear interest which is excluded from gross
income for Federal income tax purposes; and
WHEREAS, the City has not yet finalized the
arrangements for such financing for costs of the Program, but is
proceeding with the Program at this time by making expenditures
(from sources other than proceeds of such financing) on an
interim basis with the intention that such expenditures be
reimbursed from proceeds of such financing to the maximum extent
permitted by law and prudent in the judgment of the City, and the
City desires to confirm its intentions with respect to such
expenditures;
NOW, THEREFORE, BE IT RESOLVED that:
SECTION X: Pending the consummation of such financing,
the city has made, and intends to continue to make, expenditures
with respect to the Program on an interim basis from monies in
the Electric Revenue Fund.
SECTION Z: The City intends that expenditures made on
an interim basis from such Electric Revenue Fund with respect to
costs of the Program prior to the consummation of such financing
are, to the fullest extent possible, to be reimbursed to the City
from the proceeds of such financing upon its consummation;
provided, however, that the maximum principal amount of debt to
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be issued with respect to the Program shall not exceed
$6,000,000.
SECTION 3: While the City is not bound to proceed with
financing for the Program, the City reasonably expects, based on
all presently existing relevant facts and circumstances after due
inquiry, to proceed with such financing for the Program, and to
reimburse itself from the proceeds of such financing.
SECTION 4: This resolution shall take effect on its
date of adoption.
PASSED AND ADOPTED this 21st day of June 1994,
by the following vote:
AYES:
NOES:
ABSENT:
ATTEST:
City Cl~rk
LA01 \6070\14459.4 2 95434.2
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 Resolution
No. 94R-108 was introduced and adopted a!: a regular meeting provided by law, of the Anaheim City
Council held on the 21st day of June, 1994, by the following vote or the members thereof:
AYES: COUNCIL MEMBERS: Feldhaus, Simpson, Pickler, Hunter, Daly
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor oi: the City of Anaheim signed said Resolution No. 94R-108
on the 22nd day of June, 1994.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of
Anaheim this 22nd day of June, 1994.
CITY CLERK OF THE CITY OF ANAHEIM
(SEAL)
I, LEONORA N. SOHL, City Clerk of the Cit~, of Anaheim, do hereby certify that the foregoing is the
original of Resolution No. 94R~108 was duly passed and adopted by the City Council of the City of
Anaheim on June 21, 1994.
CITY CLERK OF THE CITY OF ANAHEIM