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1 <br />2 <br />3 <br />4 <br />5 <br />6 <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 />WHEREAS, the Project "B" Participants of the Natural Gas Project desire to pay their <br />fair share of the capital required for acquiring, developing, and improving their share of the <br />Natural Gas Project through direct capital contributions to SCPPA. The Project "B" <br />Participants will consist of the Cities of Glendale and Pasadena; and <br />WHEREAS, the City has need for stable long-term natural gas supplies to satisfy the <br />City's fuel needs, especially with respect to the Magnolia Project, and to assist in meeting <br />future fuel needs; and <br />WHEREAS, the City Council finds and determines that it is in the best interests of the <br />City and its residents to purchase an entitlement share in the Natural Gas Project pursuant to <br />Project "A" of the Natural Gas Project Gas Sales Agreement between the City and SCPPA <br />(the "Project A Gas Sales Agreement"), a form of which has been submitted to this Council; <br />and <br />WHEREAS, in accordance with the Agreement and the Joint Powers Act, SCPPA has <br />the power to enter into the Project A Gas Sales Agreement; and <br />WHEREAS, payments to be made under the Project A Gas Sales Agreement will be <br />used in part for payment of the principal of, premium, if any, and interest on certain of the <br />bonds, notes or other evidences of indebtedness issued by SCPPA to finance a portion of <br />the Natural Gas Project. <br />NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON DOES <br />ORDAIN AS FOLLOWS: <br />SECTION 1. The City Council hereby approves the entering into of the Project A <br />Gas Sales Agreement by the City. <br />SECTION 2. Pursuant to Section 54241 of the Government Code of the State of <br />California, this Ordinance is subject to the provisions for referendum applicable to the City. <br />SECTION 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 />Council hereby declares that it would have passed the remainder of this Ordinance, if such <br />invalid portion thereof has been deleted. <br />Page 2 <br />