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[Project Vote] <br />RESOLUTION NO. 2007-39 <br />RESOLUTION RELATING TO GAS PROJECT NO. 1: <br />(I) AUTHORIZING THE EXECUTION AND DELIVERY OF (A) A <br />TRUST INDENTURE AUTHORIZING THE ISSUANCE OF THE GAS <br />PROJECT REVENUE BONDS (PROJECT NO. 1), WHICH MAY BE <br />ISSUED AS SERIES 2007A, SERIES 2007B AND SERIES 2007C, (B) A <br />BOND PURCHASE CONTRACT, (C) THE PREPAID NATURAL GAS <br />SALES AGREEMENTS, (D) THE PREPAID NATURAL GAS SUPPLY <br />AGREEMENTS, (E) A RECEIVABLES PURCHASE AGREEMENT, (F) A <br />PRICING AGREEMENT, (G) A GAS SCHEDULING AGREEMENT, (H) <br />A COLLATERAL AGENCY AGREEMENT, (I) A CONTINUING <br />DISCLOSURE UNDERTAKING, (J) THE FINANCIAL GUARANTY <br />AGREEMENTS, (K) AN AGENCY AGREEMENT, (L) THE INTEREST <br />RATE SWAP AGREEMENTS AND (M) A COMMODITY SWAP <br />AGREEMENT; (II) AUTHORIZING THE DELIVERY OF A <br />PRELIMINARY OFFICIAL STATEMENT AND THE EXECUTION AND <br />DELIVERY OF AN OFFICIAL STATEMENT; AND (III) AUTHORIZING <br />THE OFFICERS OF THE AUTHORITY TO DO ALL OTHER THINGS <br />DEEMED NECESSARY OR ADVISABLE <br />BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHERN <br />CALIFORNIA PUBLIC POWER AUTHORITY AS FOLLOWS: <br />1. Each of the President and Vice President and each of the Secretary and any <br />Assistant Secretary of the Southern California Public Power Authority (the "Authority") are <br />hereby authorized to execute and deliver a Trust Indenture (the "Indenture") relating to the Gas <br />Project Revenue Bonds (Project No. 1), which may be issued as Series 2007A, Series 2007B and <br />Series 2007C (the "Bonds"), between the Authority and U.S. Bank National Association, as <br />trustee (the "Trustee"), in substantially the form on file with the Authority, with such changes, <br />insertions and omissions (subject to Paragraph 17 hereof) as shall be approved by said President <br />or Vice President (such approval to be conclusively evidenced by such officer's execution and <br />delivery thereof), and each of the Secretary and any Assistant Secretary is hereby authorized to <br />affix the seal of the Authority thereto. The form of the Indenture is hereby made a part of this <br />Resolution as though set forth in full herein and the same hereby is approved. <br />The issuance of the Bonds is hereby authorized, subject to the provisions of this <br />Resolution and the Indenture. The Bonds shall be dated, shall mature on the date or dates and in <br />the year or years and shall bear interest all as provided in the Indenture. <br />The form of the Bonds and the provisions for signatures, authentication, payment, <br />registration, redemption, denominations, sinking fund, numbers and other terms thereof shall be <br />as set forth in the Indenture, as applicable. <br />