Board Meeting Materials
2000 - 2009
4/18/2017 4:55:30 PM
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(Roll Call Vote) <br />RESOLUTION NO. 2009-57 <br />RESOLUTION OF THE SOUTHERN CALIFORNIA PUBLIC POWER <br />AUTHORITY PROVIDING FOR AN ADDITIONAL CONTRIBUTION TO THE <br />AUTHORITY'S REVOLVING GENERAL FUND, AND TAKING CERTAIN <br />RELATED ACTION (RESTRUCTURING) <br />WHEREAS, the Board of Directors of the Southern California Public <br />Power Authority (the "Authority") in its Resolution No. 1990-15 established a <br />revolving general fund (the "General Fund") for the payment of costs and <br />expenses incurred by the Authority from time to time in carrying out its purposes; <br />WHEREAS, the Board of Directors of the Authority, in its Resolution <br />No. 1992-1, provided for the continuation of the General Fund and established a <br />procedure to be followed with respect to additional contributions to the General <br />Fund; <br />WHEREAS, the Board of Directors of the Authority, in its Resolution <br />No. 1992-2, provided for a separate bank account (the "Resolution No. 1992-2 <br />Account") to hold and disburse the additional contributions to the General Fund <br />with respect to advocacy matters and joint planning matters; <br />WHEREAS, the Board of Directors of the Authority in its Resolution <br />No. 1995-2 has provided for a separate bank account (the "Joint Planning <br />Account") to hold and disburse contributions to the General fund with respect to <br />joint planning matters; <br />WHEREAS, the Board of Directors of the Authority, in its Resolution No. 1995-133, <br />changed the name of the "Joint Planning Account" to the "Restructuring Account'; <br />WHEREAS, the Board of Directors of the Authority wishes to provide <br />for an additional contribution to the General Fund, and Members of the Authority <br />are willing to make such additional contribution. <br />WHEREAS, the purpose of the "Restructuring Account" is to provide <br />for contributions from the Members to cover the CMUA restructuring effort and <br />related SCPPA allocated payments, which include an amount equaling <br />approximately 50% of the CMUA payment which is paid to Braun & Blaising, L.L.P. <br />to assist in these efforts; <br />
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