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[Project Vote] <br />RESOLUTION NO. 2007-5 <br />RESOLUTION OF THE BOARD OF DIRECTORS OF SOUTHERN <br />CALIFORNIA PUBLIC POWER AUTHORITY (I) AUTHORIZING <br />PIU?,PARATION OF ALL DOCUMENTS NECESSARY OR <br />APPROPRIATE TO SELL AND ISSUE MAGNOLIA POWER <br />PROJECT A, REFUNDING REVENUE BONDS, 2007-1, PROCEEDS <br />OF WHICH WILL BE USED TO REFUND ALL OR A PORTION OF <br />THE MAGNOLIA POWER PROJECT A, REVENUE BONDS, 2003-1, <br />AND FOR SUCH OTHER PURPOSES AS THE FINANCE <br />COMMITTEE SHALL DETERMINE; (11) APPOINTING THE <br />UNDERWRITER AND THE COUNTERPARTIES UNDER THE <br />INTEREST RATE SWAPS; AND (111) AUTHORIZING OFFICERS OF <br />THE AUTHORITY TO DO ALL THINGS DEEMED NECESSARY OR <br />APPROPRIATE. <br />WHEREAS, on April 2, 2003, the Southern California Public Power Authority (the <br />"Authority") issued $299,975,000 of Magnolia Power Project A, Revenue Bonds, 2003-1 in <br />order to pay a portion of the costs relating to the construction of the Magnolia Power Project, <br />which costs are payable by the Cities of Anaheim, Burbank, Colton, Glendale and Pasadena (the <br />"Project A Participants"); and <br />WHEREAS, representatives of the Project A Participants have determined that it is in the <br />best interest of the Authority (i) to proceed with preparing all documents necessary or <br />appropriate to sell and issue variable rate Magnolia Power Project A, Refunding Revenue Bonds, <br />2007-1 (the "Bonds"), proceeds of which will be used to refund all or a portion of the Magnolia <br />Power Project A, Revenue Bonds, 2003-1, and for such other purposes as the Finance Committee <br />of the Authority shall determine, (ii) to appoint the underwriter for the Bonds, and (iii) to appoint <br />the counterparties under the related interest rate swaps; and <br />WHEREAS, once prepared, drafts of the contracts proposed to be entered into by the <br />Authority in connection with such transactions 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 financing of the <br />Bonds.