Laserfiche WebLink
ORDINANCE NO. __1618 --- <br />ORDINANCE <br />1618___ORDINANCE OF THE CITY COUNCIL OF THE <br />CITY OF COLTON AUTHORIZING THE <br />ISSUANCE OF NOTES BY SOUTHERN <br />CALIFORNIA PUBLIC POWER AUTHORITY. <br />WHEREAS, pursuant to the provisions of Chapter 5, Division <br />7, Title 1 of the Government Code of the State of California, as <br />amended (the "Joint Powers Act"), the City of Colton and certain <br />other public agencies created pursuant to the laws of the State of <br />California (collectively, the "Members"), have entered into a Joint <br />Powers Agreement ( the "Agreement") creating the Southern California <br />Public Power Authority (the "Authority") , a public entity separate <br />and apart from the Members; and <br />WHEREAS, in accordance with the Agreement and the Joint <br />Powers Act, the Authority has undertaken or will undertake to, among <br />other things, incur preliminary costs, make (or cause to be made) <br />studies and acquire (or cause to be acquired) options and permits <br />("Development Work") in connection with a project for the transmis- <br />sion of electric energy, which project (the "Project") is the Mead - <br />Phoenix DC Intertie, a +/- 500 KV DC transmission line with AC/DC <br />converter stations at each end and related facilities, to be located <br />in the States of Arizona and Nevada; and <br />WHEREAS, the Authority proposes to issue, in accordance <br />with the Agreement and the Joint Powers Act, from time to time, in <br />one or more installments, its notes or other evidences of indebted- <br />ness (the "Notes") to be outstanding at any one time in accordance <br />with their terms in the estimated maximum aggregate principal amount <br />of $15,000,000, to mature on or before December 31, 1991, for the <br />