Board Meeting Materials
2000 - 2009
4/19/2017 4:07:55 PM
4/19/2017 4:07:53 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 Braun & <br />Blaising at the request of a member of the Authority, provided that such <br />member agrees, in writing, to bear all costs and expenses of such <br />consultant. <br />2. The Board of Directors hereby.provides for an additional contribution to <br />the General Fund. Such additional contribution, <br />a) shall be solely for the purpose of paying costs and expenses incurred <br />by the Authority with respect to Braun & Blaising, and pending <br />application for such purpose the contribution shall not be expended to <br />pay costs or expenses properly allocable to one or more projects as <br />provided in Section 3 of Resolution No. 1992-1 ; <br />b) with respect to each approved bill SCPPA receives from Braun 8 <br />Blaising, shall be billed and collected by adding the amounts provided <br />above to the Authority's Hoover Uprating Project billings to Anaheim (if <br />applicable), and to the Authority's Palo Verde Project billings to the <br />other applicable Members, with such amounts designated as <br />"Resolution No. 2004-6 Charge". <br />3. Although the amounts contributed under this Resolution and related <br />income shall constitute part of the General Fund, they shall be held and <br />accounted for in a separate subaccount within the existing Restructuring <br />Account. The Executive Director of the Authority is hereby directed to <br />establish a subaccount (the Braun & Blaising Subaccount) within the <br />Restructuring Account for the purpose of holding contributions and related <br />income, and making disbursements, under this Resolution. The <br />President, Vice President, Secretary, any Assistant Secretary and the <br />Executive Director of the Authority are each authorized to execute checks <br />drawn on the Restructuring Account from time to time. <br />4. Amounts contributed to and held in the General Fund and the Braun & <br />Blaising Subaccount pursuant to this Resolution will not be contributed or <br />held for the purposes of any project for which the Authority has obtained <br />any form of external financing. Such amounts shall not constitute (a) <br />Revenues, or (b) revenues, income, rents or receipts derived by the <br />Authority from or attributable to Authority Capacity (or to the payment of <br />the costs thereof) or the ownership or operation of any Project. As used <br />herein, "Revenues", "Authority Capacity" and "Project" shall have the <br />respective meanings set forth in the indentures of trust and other <br />instruments governing the external financing arrangements entered into <br />from time to time by the Authority.
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