Board Meeting Materials
2000 - 2009
4/19/2017 4:08:07 PM
4/19/2017 4:08:01 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 Plan b Solutions, at <br />the request of a Member(s) of the Authority, provided that such Member(s) <br />agrees, in writing, to bear all costs and expenses of such consultant. <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 the benchmarking study performed by Plan b <br />Solutions, and pending application for such purpose the contributions shall <br />not be expended to pay costs or expenses properly allocable to one or more <br />projects as provided in Section 3 of Resolution No. 1992-1 ; <br />b) with respect to each bill SCPPA receives from Plan b Solutions for <br />benchmarking studies, shall be billed in equal shares to the Members that are <br />participating in the study; 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. 2004-8 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 Plan b <br />Solutions Benchmarking Subaccount) within the Restructuring Account for the <br />purpose of holding contributions and related income, and making disbursements, <br />under this Resolution. The President, Vice President, Secretary, any Assistant <br />Secretary and the Executive Director of the Authority are each authorized to execute <br />checks drawn on the Restructuring Account from time to time. <br />4. Amounts contributed to and held in the General Fund and the Plan b Solutions <br />Benchmarking Subaccount pursuant to this Resolution will not be contributed or held <br />for the purposes of any project for which the Authority has obtained any form of <br />external financing. Such amounts shall not constitute (a) Revenues, or (b) <br />revenues, income, rents or receipts derived by the Authority from or attributable to <br />Authority Capacity (or to the payment of the costs thereof) or the ownership or <br />operation of any Project. As used herein, "Revenues", "Authority Capacity" and <br />"Project" shall have the respective meanings set forth in the indentures of trust and <br />other instruments governing the external financing arrangements entered into from <br />time to time by the Authority.
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