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[Roll Call Vote] <br />RESOLUTION NO. 2000-2 <br />RESOLUTION OF THE BOARD OF DIRECTORS OF SOUTHERN <br />CALIFORNIA PUBLIC POWER AUTHORITY AUTHORIZING (I) <br />PREPARATION OF ALL DOCUMENTS NECESSARY OR APPROPRIATE <br />FOR A TENDER OFFER PROGRAM FOR THE PURCHASE OF CERTAIN <br />SOUTHERN TRANSMISSION PROJECT REVENUE BONDS, (11) <br />PREPARATION OF ALL DOCUMENTS NECESSARY OR APPROPRIATE <br />TO ISSUE SOUTHERN TRANSMISSION PROJECT REVENUE BONDS, <br />PROCEEDS OF WHICH WILL BE USED TO PURCHASE BONDS <br />TENDERED PURSUANT TO THE TENDER OFFER PROGRAM, (111) <br />DESIGNATING THE DEALER-MANAGER FOR THE TENDER OFFER <br />PROGRAM AND THE UNDERWRITER AND REMARKETING AGENT FOR <br />THE BONDS TO BE ISSUED, AND (IV) AUTHORIZING OFFICERS OF THE <br />AUTHORITY TO DO ALL THINGS DEEMED NECESSARY OR <br />APPROPRIATE <br />WHEREAS, the Finance Committee of the Southern California Public Power <br />Authority (the "Authority") at a meeting held on January 10, 2000 has determined that it is in the <br />best interest of the Authority to proceed with (i) preparing all documents necessary or <br />appropriate for a tender offer program pursuant to which the Authority will purchase and cancel <br />certain of the Southern Transmission Project Revenue Bonds, 1992 and 1993 Subordinate <br />Refunding Series (the "Tender Offer Program"), (ii) preparing all documents necessary or <br />appropriate to sell and issue subordinate Southern Transmission Project Revenue Bonds (the <br />"2000 Bonds"), proceeds of which will be used to purchase bonds tendered pursuant to the <br />Tender Offer Program, (iii) designating the dealer-manager to assist in effecting the Tender Offer <br />Program and the underwriter and remarketing agent for the 2000 Bonds, and (iv) preparing such <br />other documents as are necessary or appropriate to effect such transactions; and <br />WHEREAS, once prepared, draRs of the contracts proposed to be entered into by <br />the Authority in connection with such transactions will be presented for the Board's <br />consideration. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the <br />Authority as 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 financial manager, the Authority's co-bond counsel and the <br />Authority's financial advisor) are hereby authorized to prepare all documents necessary or <br />appropriate for (i) the Tender Offer Program, (ii) the sale and issuance of the 2000 Bonds (which <br />are contemplated to be variable rate demand obligations), and (iii) such other documents as are <br />necessary or appropriate to effect such transactions.