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[Project Vote: Anaheim, Burbank, <br />Glendale, LADWP, Pasadena and Riverside] <br />RESOLUTION NO. 2013-015 <br />RESOLUTION OF THE BOARD OF DIRECTORS OF SOUTHERN <br />CALIFORNIA PUBLIC POWER AUTHORITY (I) AUTHORIZING THE <br />PREPARATION OF ALL DOCUMENTS NECESSARY OR <br />APPROPRIATE (A) TO SELL AND ISSUE TRANSMISSION PROJECT <br />REVENUE BONDS, PROCEEDS OF WHICH WILL BE USED TO <br />REFUND THE TRANSMISSION PROJECT REVENUE BONDS, 2001 <br />SUBORDINATE REFUNDING SERIES (SOUTHERN TRANSMISSION <br />PROJECT) AND (B) TO TERMINATE THE RELATED INTEREST RATE <br />SWAP AGREEMENT AND (II) AUTHORIZING OFFICERS OF THE <br />AUTHORITY TO DO ALL THINGS DEEMED NECESSARY OR <br />APPROPRIATE <br />WHEREAS, the Finance Committee of the Southern California Public Power Authority <br />(the "Authority") has determined that it is in the best interest of the Authority to proceed with <br />preparing all documents necessary or appropriate to sell and issue Transmission Project Revenue <br />Bonds (the "Bonds"), proceeds of which will be used to refund the 2001 Subordinate Refunding <br />Series (Southern Transmission Project), which Bonds are expected to be issued as fixed rate <br />bonds, and to terminate the related interest rate swap agreement; and <br />WHEREAS, once prepared, drafts of the contracts proposed to be entered into by the <br />Authority in connection with such refunding and the termination of the related interest rate swap <br />agreement will be presented for the Board's consideration; <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Authority as <br />follows: <br />1. The Authority's staff and the Authority's team of financing professionals <br />(including the personnel at the Los Angeles Department of Water and Power who work on <br />Authority matters, the Authority's Co -Bond Counsel and the Authority's Financial Advisor) are <br />hereby authorized to prepare all documents necessary or appropriate for the sale and issuance of <br />the Bonds and the termination of the related interest rate swap agreement. <br />2. Each of the President, Vice President, Executive Director, Secretary and any <br />Assistant Secretary of the Authority, and any other officer of the Authority, is hereby authorized <br />and directed to do and cause to be done any and all acts and things necessary or appropriate for <br />carrying out the transactions contemplated by this Resolution. <br />50610087.1 <br />