1992 R 117 - Laserfiche WebLink

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11 2 3 4 5 6 7 8 9 10 111 12' 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION_ R-117-92 RESOLUTION OF THE CITY OF COLTON APPROVING THE TERMS AND CONDITIONS, AND AUTHORIZING THE EXECUTION AND DELIVERY, OF CERTAIN AGREEMENTS WITH RESPECT TO THE SAN JUAN 3 PROJECT WHEREAS, this public agency and certain other public agencies of the State of California anticipate participating in the acquisition by Southern California Public Power Authority of an interestin the coal -fueled electric generating unit known as Unit 3 of San Juan Generating Station, together with associated facilities (the "San Juan 3 Project"); and WHEREAS, this public agency desires to participate in the San Juan 3 Project as provided in the San. Juan 3 Power Sales Contract and the Earnest Money Agreement, forms of which have been presented to this Governing Body (the "Subject Agreements"); and WHEREAS, it is in the best interests of this public agency to execute and deliver the Subject Agreements. NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF COLTON: 1. The terms and provisions of the Subject Agreements with respect to this public agency, in the forms submitted to this Governing Body, are hereby approved, and this Governing Body hereby authorizes and directs the City Manager to execute and deliver the Subject Agreements in accordance with the terms and provisions thereof, with such changes, .insertions and omissions as may be approved by the official of this public agency executing the same, said execution being conclusive evidence of such approval. [Further, the officials of this public agency executing said .,,ubject Agreements are hereby authorized to increase the Purchaser Share and related percentages of this public agency by up to 20% thereof.] 2. Each official of this public agency is hereby authorized and directed