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RESOLUTION NO. 2007-42 <br />RESOLUTION RELATING TO THE RENEWABLE ELECTRIC <br />ENERGY RESOURCE PROJECT: (I) RATIFYING AND APPROVING, <br />AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE <br />POWER PURCHASE AGREEMENT TO FACILITATE THE <br />ACQUISITION OF WIND ENERGY RESOURCES AND RELATED <br />LEASING STRUCTURES AND ADMINISTRATIVE AND OPERATING <br />AGREEMENTS AND CERTAIN OTHER AGREEMENTS ASSOCIATED <br />WITH ACQUISITION, OPERATION OR FINANCING IN CONNECTION <br />WITH THE SCPPA MILFORD WIND CORRIDOR PHASE I PROJECT; <br />(II) RATIFYING AND APPROVING, AND AUTHORIZING THE <br />EXECUTION AND DELIVERY OF POWER SALES AGREEMENTS <br />WITH THE CITY OF LOS ANGELES ACTING BY AND THROUGH <br />THE DEPARTMENT OF WATER AND POWER, THE CITY OF <br />BURBANK AND THE CITY OF PASADENA; (III) APPROVING AND <br />AUTHORIZING THE EXECUTION AND DELIVERY OF THE AGENCY <br />AGREEMENT WITH THE CITY OF LOS ANGELES ACTING BY AND <br />THROUGH THE DEPARTMENT OF WATER AND POWER, (IV) <br />AUTHORIZING THE ISSUANCE OF REVENUE BONDS FOR THE <br />PREPAYMENT OF ENERGY PURSUANT TO THE MILFORD WIND <br />CORRIDOR PHASE I POWER PURCHASE AGREEMENT, (V) <br />APPROVING THE UNDERWRITER FOR THE ISSUANCE OF THE <br />AFORESAID BONDS, (VI) AUTHORIZING CERTAIN RELATED <br />ACTIONS; AND (VII) AUTHORIZING THE OFFICERS OF THE <br />AUTHORITY TO DO ALL OTHER THINGS DEEMED NECESSARY OR <br />ADVISABLE <br />WHEREAS, the Southern California Public Power Authority (the "Authority" or <br />"SCPPA") and certain of its members have investigated the acquisition and development of <br />certain renewable resources including wind resource facilities as part of the SCPPA Renewable <br />Electric Energy Resource Project created by the Board of Directors pursuant to SCPPA <br />Resolution Number 2006-13, to provide a long-term supply of renewable energy to such <br />members for the purpose of satisfying the needs of such members and their governing bodies to <br />meet desired specified renewable energy resource goals; and <br />WHEREAS, pursuant to these goals the City of Los Angeles acting by and through the <br />Department of Water and Power and the Cities of Burbank and Pasadena (the "Project <br />Participants") have negotiated a wind energy power purchase agreement (the "Power Purchase <br />Agreement') to facilitate the acquisition of wind energy facility output and other rights and <br />resources associated with a wind energy facility to be developed in the Milford Wind Corridor <br />situated north of the town of Milford, Utah in Millard and Beaver Counties (the "Milford Wind <br />Corridor Phase I Project' or the "Project'); and <br />