Laserfiche WebLink
2 <br />3 <br />4 <br />S <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 />28 <br />RESOLUTION NO. R-18-02 <br />RESOLUTION OF THE CITY OF COLTON, AUTHORIZING OFFICIALS TO <br />EXECUTE AND DELIVER THE MAGNOLIA POWER PROJECT POWER <br />SALES ACREEMENT AND APPROVING THE SHARE OF CAPACITY AND <br />ENERGY TO BE PURCHASED PURSUANT TO THE MAGNOLIA POWER <br />PROJECT POWER SALES AGREEMENT <br />WHEREAS, in accordance with Ordinance No. 0-01-02 of the City of Colton (the <br />"City"), the City Council of the City of Colton has authorized entering into the Magnolia Power <br />Project Power Sales Agreement (the "Power Sales Agreement") between the City and the <br />Southern California Pubiic Power Authority (the "Authority"); and <br />WHEREAS, under tFie Power Sales Agreement the City will be entitled to a�ercer�tage <br />of the capacity and energy in the Magnolia Power Project, a natural gas-fired generating <br />facility and associated facilities to be owned by the Authority and to be located in the City of <br />Burbank, a member of the Authority (the "Magnolia Power ProjecY'); and <br />WHEREAS, under the Power Sales Agreement, the City is to specify the percentage of <br />capacity and energy in the Magnolia Power Project to which the City is entitled (the <br />"Generation Entitlement Share"). <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Colton: <br />1. The City Manager and the Utilities Director of the City are each hereby <br />authorized to execute and deliver the Power Sales Agreement, with such changes, insertions <br />and omissions as shall be approved by the official executing the Power Sales Agreement <br />(such approval to be conclusively evidenced by such execution), and the City Clerk is hereby <br />authorized to attest to such signature. <br />2. The Generation Entitlement Share for the City to be set forth in the executed <br />Power Sales Agreement shall not exceed Tour and 1322/10000 percent (4.1322%). <br />3. Each of the officials referred to in paragraph 1 above is hereby authorized to <br />execute and deliver any and all other documents and instruments and to do and cause to be <br />done any and all acts and things necessary or advisable for carrying out the transactions <br />contemplated uy this Resolution, including the Authority's financing of the Magnolia Power <br />Project for the benefit of the City and the other participants in the Magnolia Power Project. <br />