Board Meeting Materials
2000 - 2009
4/19/2017 3:26:40 PM
4/19/2017 3:26:38 PM
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Sales Agreements and desire that SCPPA enter into the Agency Agreement to carry forth the <br />transactions associated with the Milford Wind Corridor Phase I Project; and <br />WHEREAS, the Authority desires to carry forth those measures necessary to proceed <br />with the implementation of the renewable resource transactions contemplated by the Milford <br />Wind Corridor Phase I Project; <br />NOW, THEREFORE, BE IT RESOLVED BY the Board of Directors of the Southern <br />California Public Power Authority as follows: <br />i. The Board of Directors hereby approves the proposed Power Purchase <br />Agreement, the Power Sales Agreements, the Agency Agreement and all other agreements <br />necessary to effectuate the transactions contemplated as part of the Milford Wind Corridor Phase <br />I Project as in the judgment of the Executive Director shall best carry forth the respective <br />interests of SCPPA and the Project Participants. <br />2. Each of the President and Vice President of the Authority, as applicable, is hereby <br />authorized and empowered to cant' out those actions necessary to consummate, execute and <br />deliver the Power Purchase Agreement, the Agency Agreement and the Power Sales <br />Agreements, as may be deemed appropriate to carry forth the transactions and goals of the <br />Milford Wind Corridor Phase I Project, and each of the President and Vice President of the <br />Authority is hereby authorized and directed to execute and deliver such Power Purchase <br />Agreement, Agency Agreement and Power Sales Agreements and such other agreements as may <br />be deemed necessary or advisable to effectuate the goals of the Project, with such changes, <br />modifications, insertions and omissions as shall be approved by said President or Vice President <br />(such approval to be conclusively evidenced by his or her execution and delivery thereof), and <br />each of the Secretary and any Assistant Secretary is hereby authorized to attest to such signature. <br />3. The Power Purchase Agreement shall only be binding upon SCPPA after a fully <br />executed original of the Power Purchase Agreement is delivered to the authorized representative <br />of the counterparty under the Power Purchase Agreement. <br />4. The firm of Lehman Brothers (and any successor thereto) is hereby approved to <br />be the proposed underwriter for the prepayment bond issuance contemplated as part of the <br />transactions set forth herein. <br />5. Each of the President and Vice President of the Authority is hereby authorized <br />and directed to execute and deliver, after consultation with the Executive Director, such <br />agreements, amendments to agreements and such other approvals, acceptances, instruments or <br />documents all as shall be approved by said President or Vice President (such approval to be <br />conclusively evidenced by his or her execution and delivery thereof), and each of the Secretary <br />and any Assistant Secretary is hereby authorized to attest to such signature and to affix the seal <br />of the Authority thereto. <br />3 <br />
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