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lI 2� 3 4 5, 6! 71 8 9 10 11 12 13 14 15 16 17 18' 19 20 21 22 23 24 25 26 27 28 ORDINANCE NO. 1607 ORDINANCE OF THE CITY COUNCIL OF THE CITY OF COLTON 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 Colton and certain other public agencies created pur- suant 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 an inter- est in a project to provide for the generation of electric energy, which project (the "Project") is to consist of an ownership interest as tenant in common in the Palo Verde Nuclear Generating Station, a nuclear steam electric generating static under construction in the State of Arizona, and capital improvements thereto that may be constructed from time to time, and interests in certain other property and (rights relating thereto; 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 installment its Notes to be outstanding at any one time in accordance with their terms in the estimated maximum aggregate principal amount of $400,000,000, to mature on or be- fore July 1, 1991, for the purpose of temporary financing of costs of acquisition and construction of the Project; and WHEREAS, the Authority proposes to issue its Power Project Revenue Bonds for the purpose of providing funds for the acquisition, construction and financing of the Project; and