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1 11 Natural Gas Project through direct capital contributions to SCPPA. The Project "B" <br />2 Participants will consist of the Cities of Glendale and Pasadena <br />311 ,and <br />WHEREAS, the City has need for stable long-term natural gas supplies to satisfy the <br />4 <br />5 <br />City's fuel needs, especially with respect to the Magnolia Project, and to assist in meeting <br />6 future fuel needs; and <br />7 WHEREAS, the City Council finds and determines that it is in the best interests of the <br />8 City and its residents to purchase an entitlement share in the Natural Gas Project pursuant to <br />9 Project "A" of the Natural Gas Project Gas Sales Agreement between the City and SCPPA <br />10 (the "Project A Gas Sales Agreement"), a form of which has been submitted to <br />this Council; <br />11 and <br />12 <br />13 WHEREAS, in accordance with the Agreement and the Joint Powers Act, SCPPA has <br />14 the power to enter into the Project A Gas Sales Agreement; and <br />15 WHEREAS, payments to be made under the Project A Gas Sales Agreement will be <br />16 used in part for payment of the principal of, premium, if any, and interest on certain of the <br />17 bonds, notes or other evidences of indebtedness issued by SCPPA to finance a portion of <br />18 the Natural Gas Project. <br />19 <br />20 NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON DOES <br />21 ORDAIN AS FOLLOWS: <br />22 SECTION 1. The City Council hereby approves the enterin into <br />23 <br />Gas Sales Agreement by the City. 9 of the Project A <br />24 SECTION 2. Pursuant to Section 54241 of the Government Code of the State of <br />25 California, this Ordinance is subject to the provisions for referendum applicable to the City. <br />26SECTION 3. If any part of this Ordinance is held to be invalid for any reason, such <br />decision shall not affect the validity of the remaining portion of this Ordinance, and this City <br />27 Council hereby declares that it would have passed the remainder of this Ordinance, if such <br />invalid portion thereof has been deleted. <br />28 <br />SECTION 4. The City Clerk shall certify to the passage of this ordinance and cause <br />the same or a summary thereof to be published within fifteen (15) days after adoption in a <br />newspaper of general circulation, printed and published in Colton, California, and the <br />PAI <br />