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X ?II 3 c s 7 8 9 10 11 12 13 14 15 16 17 1811 19 20 21 22 23 " 2411$ 25 26 27 IP' 28 1" ORDINANCE NO. 1606 ORDINANCE OF THE CITY COUNCIL OF THE CITY OF COLTON AUTHORIZING THE ISSUANCE OF POWER PROJ- ECT REVENUE BONDS 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 Colton 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 South- ern 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 an in- terest in a project to provide for the generation of electric energy, which proj- ect (the "Project") is to consist of an ownership interest as tenant in common in the Palo Verde Nuclear Generating Station, a nuclear steam electricenera ' 9 ting station under construction in the State of Arizona, and capital improvements thereto that may be constructed from time to time, and interests in certain )they property and rights relating thereto; and WHEREAS, the Authority proposes to issue, in accordance with the Igreement and the Joint Powers Act, from time to time, in one or more installment is Power Project Revenue Bonds to be outstanding at any one time in accordance ith their terms in the estimated maximum aggregate principal amount of 800,000,000, to mature on or before October 31, 2030, for the purpose of provid- ng funds for the acquisition, construction and financing of the Project; and WHEREAS, the Authority also proposes to issue its Notes for the irpose of temporary financing of costs of acquisition and construction of the •oject; and