Board Meeting Materials
2000 - 2009
4/19/2017 3:24:09 PM
4/19/2017 3:24:06 PM
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RESOLUTION NO. 2007-8 <br />RESOLUTION RELATING TO THE RENEWABLE ELECTRIC <br />ENERGY RESOURCE PROJECT: (I) AUTHORIZING THE <br />NEGOTIATION, EXECUTION AND DELIVERY OF A POWER <br />PURCHASE AGREEMENT TO FACILITATE THE ACQUISITION OF <br />WIND ENERGY RESOURCES AND RELATED LEASING STRUCTURES <br />AND ADMINISTRATIVE AND OPERATING AGREEMENTS AND <br />CERTAIN OTHER AGREEMENTS ASSOCIATED WITH <br />ACQUISITION, OPERATION OR FINANCING IN CONNECTION WITH <br />THE SCPPA MILFORD CORRIDOR WIND PROJECT; (11) <br />AUTHORIZING THE NEGOTIATION, EXECUTION AND DELIVERY <br />OF POWER SALES AGREEMENT WITH THE CITY OF LOS ANGELES <br />ACTING BY AND THROUGH ITS DEPARTMENT OF WATER AND <br />POWER, THE CITY OF BURBANK AND THE CITY OF PASADENA; <br />(111) AUTHORIZING THE ISSUANCE OF REVENUE BONDS FOR THE <br />PREPAYMENT OF ENERGY PURSUANT TO THE MILFORD WIND <br />CORRIDOR PHASE I POWER PURCHASE AGREEMENT (IV) <br />APPROVING THE UNDERWRITER FOR THE ISSUANCE OF THE <br />AFORESAID BONDS (V) AUTHORIZING CERTAIN RELATED <br />ACTIONS; AND (VI) AUTHORIZING THE OFFICERS OF THE <br />AUTHORITY TO DO ALL OTHER THINGS DEEMED NECESSARY OR <br />ADVISABLE <br />WHEREAS, the Southern California Public Power Authority (the "Authority") and <br />certain of its members have investigated the acquisition and development of certain renewable <br />resources including wind resource facilities as part of the SCPPA Renewable Electric Energy <br />Resource Project created by the Board of Directors pursuant to SCPPA Resolution Number <br />2006-1 3, to provide a long-term supply of renewable energy to such members for the purpose of <br />satisfying the needs of such members and their governing bodies to meet desired specified <br />renewable energy resource goals; and <br />WHEREAS, pursuant to these goals the City of Los Angeles acting by and through the <br />Department of Water and Power and the Cities of Burbank and Pasadena (the "Project <br />Participants") have been involved in the negotiation of a wind energy power purchase agreement <br />and arrangements for the eventual acquisition of wind energy resources associated with a wind <br />energy facility proposed to be developed in the Milford Wind Corridor situated in Millard and <br />Beaver Counties in Utah (the "Milford Corridor Wind Project" or the "Project"); <br />WHEREAS, the Authority contemplates negotiating a definitive Power Purchase <br />Agreement and anticipates entering into definitive Power Sales Agreements with the Project <br />Participants (collectively the "Power Purchase Agreements") with respect to the Milford <br />Corridor Wind Project in accordance with the respective interests of each Project Participant in <br />the Project;
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