Board Meeting Materials
2000 - 2009
4/19/2017 3:28:23 PM
4/19/2017 3:28:22 PM
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NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the <br />Authority as follows: <br />1. The Executive Director is authorized and directed to retain OSS at the request of <br />Member(s) of the Authority, provided that such Member(s) agree, in writing, to <br />bear all costs and expenses associated with Services provided to Member(s), <br />respectively. <br />2. The Board of Directors hereby provides for additional contributions to the <br />General Fund. Notwithstanding anything to the contrary in Resolution No. 1992- <br />1, such additional contributions, <br />a) shall be solely for the purpose of paying costs and expenses incurred by the <br />Authority with respect to OSS, and pending application for such purpose the <br />contributions shall not be expended to pay costs or expenses properly <br />allocable to one or more projects as provided in Section 3 of Resolution No. <br />1992-1; <br />b) with respect to each bill SCPPA receives from OSS, shall be billed to the <br />Members that have received services from OSS with respect to such bill, with <br />the amount of each such Member's bill to be based upon the services <br />performed by OSS for the benefit of such Member; and <br />c) shall be billed and collected by adding the amounts provided above to the <br />Authority's Hoover Uprating Project billings to Anaheim (if applicable), and to <br />the Authority's Palo Verde Project billings to the other applicable Members, <br />with such amounts designated as "Resolution No. 2007-56 Charge." <br />3. Although the amounts to be contributed under this Resolution and related income <br />shall constitute part of the General Fund, they shall be held and accounted for in a <br />separate subaccount within the existing Restructuring Account. The Executive <br />Director of the Authority is hereby directed to establish a subaccount (the OSS <br />Subaccount) within the Restructuring Account for the purpose of holding <br />contributions and related income, and making disbursements, under this Resolution. <br />The President, Vice President, Secretary, any Assistant Secretary and the Executive <br />Director of the Authority are each authorized to execute checks drawn on the <br />Restructuring Account from time to time. <br />4. Amounts contributed to and held in the General Fund and the OSS Subaccount <br />pursuant to this Resolution will not be contributed or held for the purposes of any <br />project for which the Authority has obtained any form of external financing. Such <br />amounts shall not constitute (a) Revenues, or (b) revenues, income, rents or <br />receipts derived by the Authority from or attributable to Authority Capacity (or to the <br />payment of the costs thereof) or the ownership or operation of any Project. As used <br />herein, "Revenues", "Authority Capacity" and "Project" shall have the respective <br />meanings set forth in the indentures of trust and other instruments governing the <br />external financing arrangements entered into from time to time by the Authority. <br />
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