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[Project Vote] <br />RESOLUTION NO. 2009-78 <br />RESOLUTION OF THE BOARD OF DIRECTORS OF SOUTHERN <br />CALIFORNIA PUBLIC POWER AUTHORITY (I) AUTHORIZING THE <br />APPOINTMENT OF UNDERWRITERS FOR THE CANYON POWER <br />PROJECT REVENUE BONDS, THE PROCEEDS OF WHICH WILL BE <br />USED TO REFUND THE CANYON POWER PROJECT, REVENUE <br />NOTES, 2008 SERIES A AND TO FUND REMAINING COSTS AND <br />EXPENSES ASSOCIATED WITH THE ACQUISITION AND <br />CONSTRUCTION OF THE CANYON POWER PROJECT; AND (II) <br />AUTHORIZING OFFICERS OF THE AUTHORITY TO DO ALL THINGS <br />DEEMED NECESSARY OR APPROPRIATE <br />WHEREAS, the Finance Committee of the Southern California Public Power Authority <br />(the "Authority") has, pursuant to Resolution No. 2009-51, adopted by the Board of Directors on <br />May 21, 2009, authorized the Authority's staff and the Authority's team of financing <br />professionals to proceed with preparing all documents necessary or appropriate to sell and issue <br />obligations (the `Bonds") the proceeds of which will be used to refund the Authority's Canyon <br />Power Project, Revenue Notes, 2008 Series A and to fund remaining costs and expenses <br />associated with the acquisition and construction of the Canyon Power Project, which Project is <br />located in the City of Anaheim, California; and <br />WHEREAS, it is contemplated that the Bonds may be issued in one or more series at the <br />same or different times, and may include any or all of the following financing structures: interim <br />obligations in the form of short-term notes, tax-exempt bonds and/or taxable bonds that would be <br />expected to be designated as "build America bonds" within the meaning of Section 54AA of the <br />Internal Revenue Code; and <br />WHEREAS, the Finance Committee recently conducted a solicitation of proposals from <br />experienced investment banking firms familiar with the various financing structures as are <br />contemplated for the Canyon Power Project Bonds; and <br />WHEREAS, the Authority now desires to appoint underwriters for the Bonds; and <br />WHEREAS, once prepared, drafts of the contracts proposed to be entered into by the <br />Authority in connection with the issuance of the Bonds will be presented for the Board's <br />consideration. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Authority as <br />follows: <br />1. Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated are hereby <br />appointed as the co -senior managers for the Bonds, and the co -managers shall be Barclays <br />Capital Inc., E.J. De La Rosa & Co., Inc., J.P. Morgan Securities Inc. and Stone & Youngberg <br />