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[Roll Call Vote] <br />RESOLUTION NO. 2000-24 <br />RESOLUTION OF THE BOARD OF DIRECTORS OF SOUTHERN <br />CALIFORNIA PUBLIC POWER AUTHORITY (I) AUTHORIZING THE <br />PERFORMANCE OF WORK WITH RESPECT TO THE SUBSTITUTION OF <br />A DEBT SERVICE RESERVE ACCOUNT POLICY FOR MONEYS ON <br />DEPOSIT IN THE DEBT SERVICE RESERVE ACCOUNT OF THE SENIOR <br />LIEN SOUTHERN TRANSMISSION SYSTEM INDENTURE OF TRUST, (11) <br />AUTHORIZING THE EXECUTION AND DELIVERY OF AN AGREEh/lENT <br />BETWEEN THE AUTHORITY AND TKE PROVIDER OF THE DEBT <br />SERVICE RESERVE ACCOUNT POLICY, THE AUTHORITY AND THE <br />AUTHORITY'S FINANCIAL ADVISOR AND TJ3! AUTHORITY AND <br />BONDHOLDER COMMUNICATIONS GROUP AND (111) AUTHORIZING <br />THE OFFICERS OF THE AUTHORITY TO DO ALL THINGS DEEMED <br />NECESSARY OR DESIRABLE <br />WHEREAS, the Southern California Public Power Authority (the "Authority") <br />has heretofore entered into an Indenture of Trust, dated as of May 1, 1983, relating to the <br />Southern Transmission System Project (as amended and supplemented, the "Senior STS <br />Indenture"); <br />WHEREAS, with the consent of a portion of the applicable bondowners, the <br />Senior STS Indenture may be amended to provide for the substitution of a debt service reserve <br />account policy, surety bond or similar instrument for moneys in the Debt Service Reserve <br />Account of the Senior STS Indenture (the "Debt Service Reserve Account Policy"); <br />WHEREAS, such substitution would free up a significant amount of moneys to <br />pay certain costs relating to the Southern Transmission System Project; and <br />WHEREAS, the participants in the Southern Transmission System Project desire <br />to proceed with such a substitution as one of the methods by which the participants in the <br />Southern Transmission System Project will continue to remain competitive during the ongoing <br />deregulation of the electric utility business. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the <br />Authority as follows: <br />1. The Authority's staff (including the Authority's Consulting Financial <br />Manager), financial advisor and co-bond counsel are hereby authorized to perform all work <br />necessary to (i) prepare the necessary amendments to the Senior STS Indenture, (ii) obtain the <br />consent of the applicable portion of bondowners whose bonds are secured by the Senior STS