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2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />131 <br />141 <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 />271 <br />28 <br />RESOLUTION NO. R-82-13 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON TO <br />ESTABLISH A POLICY FOR THE USE OF ALLOCATED ALLOWANCES <br />AND FOR THE USE OF PROCEEDS FROM ALLOCATED ALLOWANCES <br />IN THE CALIFORNIA CAP AND TRADE PROGRAM <br />WHEREAS, Assembly Bill 32 (AB 32) requires California to reduce its greenhouse <br />gas (GHG) emissions to 1990 levels by 2020; and <br />WHEREAS, the California Air Resources Board has instituted a Cap and Trade <br />(C&T) Program as a key component of achieving its goal; and <br />WHEREAS, the City of Colton and Colton Electric Department (CED) are required to <br />participate in the Cap and Trade Program; and <br />WHEREAS, AB 32 and the Cap and Trade (C&T) Program requires that the City <br />establish a policy identifying the approved use of allocated allowances and of any proceeds <br />received by the CED from the sale of allocated allowances in the quarterly C&T auctions, or <br />other trading platforms; and <br />WHEREAS, the use of allocated allowances and proceeds from the sale of allocated <br />allowances must be used exclusively for the benefit of OED's ratepayers, consistent with the <br />goals of AB 32 and the C&T Program. <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON <br />DOES HEREBY RESOLVE AS FOLLOWS: <br />The City of Colton Electric Department shall: <br />1. On an annual basis, the Colton Electric Department (CED) will designate to the <br />California Air Resources Board (CARB) the forecasted quantity of freely allocated <br />allowances needed to meet its retail load requirements for deposit directly into OED's <br />compliance account with the CARB's Compliance Instrument Tracking Service System <br />(CITSS). <br />