Board Meeting Materials
2000 - 2009
4/18/2017 4:57:46 PM
4/18/2017 4:57:44 PM
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RESOLUTION NO. 2009-130 <br />RESOLUTION OF THE SOUTHERN CALIFORNIA PUBLIC <br />POWER AUTHORITY AUTHORIZING THE EXECUTIVE <br />DIRECTOR TO PROVIDE FOR THE SERVICES OF NIXON <br />PEABODY AT THE REQUEST OF SPECIFIC MEMBERS <br />FOR CREDIT ENHANCEMENT RELATED LEGAL <br />SERVICES, AND PROVIDING FOR ADDITIONAL <br />CONTRIBUTIONS TO THE AUTHORITY'S REVOLVING <br />GENERAL FUND, AND TAKING CERTAIN RELATED <br />ACTION (RESTRUCTURING) <br />WHEREAS, the Southern California Public Power Authority (the Authority) <br />owns interests in various generation and transmission projects, the output of which has <br />been sold to Members of the Authority (Members); and <br />WHEREAS, certain SCPPA member utilities (Participants) are engaged in the <br />provision of electrical energy to retail customers through various power purchase and <br />acquisition transactions, including contracts with energy providers to provide electric energy <br />which may require certain credit support and credit enhancement provisions; and <br />WHEREAS, certain Members have a need for legal services and assistance <br />with respect to certain credit support and credit enhancement mechanisms and contractual <br />provisions and arrangements to further their provision of electric energy to their customers <br />through prudently drafted agreements for the provision of energy from power providers of <br />such energy; and <br />WHEREAS, SCPPA has the ability to provide these services, including those <br />services relating to credit enhancement alternatives which may exist under WSPP related <br />contracts through its existing legal services agreement with Nixon Peabody LLP; and <br />WHEREAS, SCPPA members that participate in the SCPPA Risk <br />Management Committee have requested that SCPPA make available to these members <br />certain legal services of Nixon Peabody LLP relating to credit enhancement alternatives to <br />be utilized by these SCPPA Members (the Services); and <br />WHEREAS, Nixon Peabody is presently under contract to SCPPA and is well <br />qualified to provide these Services; and <br />WHEREAS, the Authority is willing and able to make these services available <br />to SCPPA members requesting such services and bill all expenses and costs of providing <br />such services to the Members receiving said Services; and <br />WHEREAS, the Board of Directors of Authority, in its Resolution No. 1990-15, <br />established a 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; and <br />
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