Board Meeting Materials
2000 - 2009
4/19/2017 4:36:08 PM
4/19/2017 4:36:04 PM
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[Roll Call Vote] <br />RESOLUTION NO. 2000-1 2 <br />RESOLUTION (I) ADOPTING A POLICY ALLOCATING <br />PERMITTED PRIVATE USE UNDER LAWS RELATED TO <br />FEDERAL TAX EXEMPTION WITH RESPECT TO THE PAL0 <br />VERDE PROJECT AND (11) AUTHORIZING OFFICERS OF THE <br />AUTHORITY TO DO ALL OTHER THINGS DEEMED <br />NECESSARY OR ADVISABLE <br />WHEREAS, provisions of law, regulations and administrative interpretations relating <br />to the exclusion of interest on the bonds of the Southern California Public Power Authority (the <br />"Authority") from the gross income of the owners thereof for Federal income tax purposes (the <br />"Federal Tax Exemption") limit the trade or business use or the private business use (the "private <br />use") permitted with respect to the Authority's projects in order that such exclusion not be adversely <br />affected; and <br />WHEREAS, the Board of Directors desires to adopt a policy relating to the allocation <br />of private use of the Authority's interest in the Palo Verde Project (the "Project") in order to assure <br />(i) the maintenance of the existing Federal Tax Exemption of bonds relating to the Project and (ii) <br />a fair and equitable allocation of permitted private use among all of the participants in the Project. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Southern <br />California Public Power Authority as follows: <br />1. The "Palo Verde Project Policy Regarding Allocation of Permitted Private <br />Use" attached to this Resolution is hereby adopted. <br />2. Each of the President, Vice President, Secretary, any Assistant Secretary and <br />the Executive Director of the Authority is hereby authorized and directed to execute and deliver any <br />and all documents and instruments and to do and cause to be done any and all acts and things <br />deemed necessary or advisable for carrying out the purpose of this Resolution.
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