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1 <br />2 <br />3 <br />4 <br />5 <br />b <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />� <br />ORDINANCE NO.O-01-02 <br />ORDINANCE OF THE CITY OF COLTON, APPROVING THE ENTERING <br />INTO OF THE MAGNOLIA POWER PROJECT POWER SALES <br />AGREEMENT <br />WHEREAS, pursuant to the provisions relating to the joint exercise of powers found in <br />Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California, as <br />amended (the "Joint Powers AcY'), the City of Colton jthe "City') and certain other public <br />agencies (collectively, the "Members") have entered into a Joint Powers Agreement, as <br />amended (the "AgreemenY'), creating the Southern California Public Power Authority (the <br />"Authority'), a public entity separate and apart from the Members; and <br />WHEREAS, the Authority proposes to enter into the Magnolia Power Project <br />Construction Management and Operating Agreement to provide for the construction, <br />acquisition and operation of the Magnolia Power Project, a natural gas-fired generating facility <br />and associated facilities to be owned by the Authority and to be located in the City of 6urbank, <br />one of the Members (the "Magnolia Power Project"); and <br />WHEREAS, the Council of the City of Colton finds and determines that it is in the best <br />interests of the City and its residents to purchase capacity and energy from the Magnolia <br />Power Project pursuant to the Magnolia Power Project Power Sales Agreement between the <br />City and the Authority (the "Power Sales AgreemenY'), a form of which has been submitted to <br />this Council; and <br />WHEREAS, in accordance with the Agreement and the Joint Powers Act, the Authority <br />has ihe power io enter into the Power Sales Agreement to sell capacity and energy of the <br />Magnolia Power Project to the City; and <br />WHEREAS, payments by the City pursuant to the Power Sales Agreement will be used <br />� in part for payment of the principal of, premium, if any, and interest on certain of the bonds, <br />notes or other evidences of indebtedness issued by the Authority to finance the construction <br />and acquisition of the Magnolia Power Project. <br />NOW THEREFORE, BE IT ORDAINED by the Council of the City of Colton: <br />