R-047-14 Astoria 2 Power Sales Agreement

Browse Search

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. R-47-14 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, AUTHORIZING THE CITY MANAGER TO EXECUTE AND DELIVER THE ASTORIA 2 POWER SALES AGREEMENT AND APPROVING THE SHARE CAPACITY AND ENERGY TO BE PURCHASED PURSUANT TO THE ASTORIA 2 POWER SALES AGREEMENT. WHEREAS, Southern California Public Power Authority (the "Authority") has approved a Power Purchase Agreement between the Authority, Power and Water Resources Pooling Authority and the Cities of Lodi, Corona, Moreno Valley, and Rancho Cucamonga, and RE Astoria 2 LLC, for the output of the Astoria 2 Solar Facility; and WHEREAS, the City Council of the City of Colton has authorized entering into the Astoria 2 Power Sales Agreement (the "Power Sales Agreement') between the City and the Authority; and WHEREAS, under the Power Sales Agreement the City will be entitled to a percentage of the capacity and energy in the Astoria 2 Project, a solar generating facility to be located in Kern County, California; and WHEREAS under the Power Sales Agreement, the City will receive a specified percentage of capacity and energy in the Astoria 2 to which the City is entitled (the "Facility Output Share"). NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON DOES HEREBY RESOLVE AS FOLLOWS: 1. The City Manager of the City of Colton is authorized to execute and deliver the Power Sales Agreement, with such changes, insertions and omissions as shall be approved by the official executing the Power Sales Agreement (such approval to be conclusively evidenced by such execution), and the City Clerk is hereby authorized to attest to such signature. 2. The Facility Output Share for the City to be set forth in the executed Power Sales Agreement shall not exceed 14.2857 percent (14.2857%). //I 23152.04000\8346093.1