Laserfiche WebLink
1. The Board of Directors hereby provides for an additional <br />contribution to the General fund. Such additional contribution, <br />(a) shall be solely for the purpose of paying costs and <br />expenses incurred by the Authority from time to time with respect to the <br />restructuring of the electric utility industry; and pending application for such <br />purpose the contribution 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. 1992- <br />1; <br />(b) shall be in the aggregate amount of $260,000, with the <br />portion thereof to be contributed by each Member to be the amount set forth with <br />respect to it on Exhibit A to this Resolution; and <br />(c) shall be billed and collected by adding to the Authority's <br />July 2004 Hoover Uprating Project billing to Anaheim and the Authority's July 2004 <br />Palo Verde Project billing to each other Member, the amount set forth with respect <br />to each of them in Exhibit A to this Resolution, with such amount designated as <br />"Resolution No. 2004-16 Charge". <br />2. Although the amounts contributed under this Resolution and <br />related income shall constitute part of the General Fund, they shall be held and <br />accounted for in the Restructuring Account. The Restructuring Account may be <br />utilized for the purpose of holding contributions and related income, and making <br />disbursements, under this Resolution. As authorized under Resolution No. 1995- <br />8, the President, Vice President, Secretary, any Assistant Secretary and the <br />Executive Director of the Authority may execute checks drawn on the Advocacy <br />Account from time to time. <br />3. Amounts contributed to and held in the Restructuring Account <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 <br />the payment of the costs thereof) or the ownership or operation of any Project. As <br />used herein, "Revenues', "Authority Capacity" and "Project" shall have the <br />respective meanings set forth in the indentures of trust and other instruments <br />governing the external financing arrangements entered into from time to time by <br />the Authority.