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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 />I? 1� <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-126-21 <br />APPROVE THE RESOLUTION TO SUPPORT THE SETTLEMENT <br />AGREEMENT RELATING TO LITIGATION CONCERNING <br />AMENDMENT 60 TO THE CAISO TARIFF, RESULTING IN A <br />REFUND TO THE CITY OF COLTON OF APPROXIMATELY <br />$158,883. <br />WHEREAS, on October 27 h, 2021 a Settlement Agreement was provided and verbally <br />agreed upon by the 6 Cities (Anaheim, Azusa, Banning, Colton, Pasadena and Riverside); and <br />WHEREAS, Colton's share of the settlement was previously refunded to the City of <br />Colton without interest; and <br />WHEREAS, the Settlement refunds the City of Colton approximately $158,883 for <br />interest lost during the litigation period; and <br />WHEREAS, the other Six Cities have approved or in the process of approving said <br />settlement; and <br />WHEREAS, the approved intermediate repair work revealed that additional work and an <br />amended agreement is required for the original work to be completed to allow the Transformer <br />No. 2 to be re -energized and placed back into service; and <br />WHEREAS, as described in the City's Municipal Code, Section 3.44.020, City may <br />accept the revenues accordingly. <br />NOW, THEREFORE, BE IT RESOLVED, that the Colton City Council hereby <br />approves the Settlement Agreement as just and reasonable litigation between the Six Cities <br />(Anaheim, Azusa, Banning, Colton, Pasadena and Riverside) related to CAISO tariff amendment <br />60 resulting in a refund to the City of Colton of approximately $158,883 in interest related <br />revenues to the City. <br />PASSED, APPROVED and ADOPTED THIS 16th day OF/NOVEMBER 2021. <br />ATTEST: <br />AROLINA R. PADILLA, City Clerk <br />NAVARRO, Mayor <br />