Board Meeting Materials
2000 - 2009
4/19/2017 4:09:57 PM
4/19/2017 4:09:55 PM
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NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the <br />Authority as follows: <br />I. The Executive Director is authorized and directed to retain Phoenix Consulting, at <br />the request of a Member(s) of the Authority, provided that such Member(s) agrees, <br />in writing, to bear all costs and expenses of such consultant. <br />2. The Board of Directors hereby provides for additional contributions to the General <br />Fund. Notwithstanding anything to the contrary in Resolution No. 1992-1, such <br />additional contributions, <br />shall be solely for the purpose of paying costs and expenses incurred by the <br />Authority with respect to Phoenix Consulting, and pending application for such <br />purpose the contributions shall not be expended to pay costs or expenses <br />properly allocable to one or more projects as provided in Section 3 of Resolution <br />NO. 1992-1 ; <br />with respect to each bill SCPPA receives from Phoenix Consulting, shall be billed <br />to the Members that have received services from Phoenix Consulting with <br />respect to such bill, with the amount of each such Member's bill to be based <br />upon the services performed by Phoenix Consulting for the benefit of such <br />Member; and <br />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 the <br />Authority's Palo Verde Project billings to the other applicable Members, with such <br />amounts designated as "Resolution No. 2004-29 Charge." <br />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 Phoenix <br />Consulting 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 Phoenix Consulting <br />Subaccount pursuant to this Resolution will not be contributed or held for the <br />purposes of any project for which the Authority has obtained any form of external <br />financing. Such amounts shall not constitute (a) Revenues, or (b) revenues, income, <br />rents or receipts derived by the Authority from or attributable to Authority Capacity <br />(or to the payment of the costs thereof) or the ownership or operation of any Project. <br />As 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 the <br />Authority.
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