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(Roll Call Vote) <br />RESOLUTION NO. 2011-043 <br />RESOLUTION OF THE SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY <br />APPROVING THE ANNUAL BUDGETS FOR <br />MAGNOLIA PROJECT <br />FOR THE FISCAL YEAR JULY 1, 2011 THROUGH JUNE 30, 2012 <br />BE IT RESOLVED by the Board of Directors of the Southern California <br />Public Power Authority (the "Authority") that: <br />1. The three budgets for the Magnolia Power Project (Project A, Project <br />B, and Combined) for the Fiscal Year July 1, 2011 through June 30, 2012, submitted to <br />this Board of Directors, are hereby approved. The Executive Director is hereby <br />authorized and directed to place the budgets so approved in final form, with such <br />changes as shall be necessary or advisable to comply with the Magnolia Power Project <br />Bond Indentures and Power Sales Contracts; and the budgets hereby approved, in such <br />final form, shall constitute the Authority's Annual Budgets for Fiscal Year July 1, 2011 <br />through June 30, 2012. <br />This Resolution shall become effective immediately. <br />THE FOREGOING RESOLUTION is approved and adopted by the <br />Authority, this 19th day of May 2011. <br />ATTEST: <br />G- <br />ASMIsTANUECRETARY <br />Southern California Public <br />Power Authority <br />