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RESOLUTION NO, 2000-5 <br />RESOLUTION OF THE BOARD OF DIRECTORS OF <br />SOUTHERN CALIFORNLA PUBLIC POWER AUTHORITY <br />AUTHORIZING THE AMENDMENT OF THE AUTHORITY'S <br />GUIDELINES FOR FINANCING AND THE SELECTION OF <br />UNDERWRITERS <br />WHEREAS, upon motion of the Board of Directors of the Southern California Public Power <br />Authority (the "Authority") on February 18,1993, the Board of Directors approved the Authority's <br />Guidelines for Financing and the Selection of Underwriters (the "Guidelines"); and <br />WHEREAS, the Finance Committee of the Authority, at a meeting held on February 7,2000, <br />has determined that t l ;a Board of Directors of the Authority should consider amending the Guidelines <br />in order to facilitate a refinancing of certain San Juan Power Project Revenue Bonds in the manner <br />desired by the participants in the San Juan Unit 3 Project. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Authority as <br />follows: <br />1. The Guidelines are hereby amended to add the following new paragraph at the end <br />of the subsection entitled "A. Selection of Underwriters" on page 2 of the Guidelines: <br />Notwithstanding the foregoing, an underwriter that is not part of the <br />Authority's then-existing pool of underwriters may be selected as an <br />underwriter of refunding bonds relating to a Project upon the adoption <br />of a resolution by Project Vote of the participants of such Project (as <br />such terms are defined in the Joint Powers Agreement, dated as of <br />November 1, 1980); provided, however, that such underwriter shall <br />not be the underwriter of more than 50% of the principal amount of <br />such refunding bonds. <br />2. This resolution shall become effective immediately. <br />THE FOREGOING RESOLUTION is approved and adopted by the Authority this <br />1 7th day of February, 2000. <br />ATTEST: <br />*" 1 <br />i- - - f17 I <br />Ass1sTAN~s~i&Tmy <br />Southern California Public <br />Southern California Public <br />Power Authority <br />Power Authority <br />SC08893/09506539/577190.2