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RESOLUTION NO. 2000-27 <br />RESOLUTION OF THE BOARD OF DIRECTORS OF THE <br />SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY <br />FINDING AND DECLARING THE PROPOSED BURBANK <br />POWER PLANT (AKA MAGNOLIA POWER PROJECT) TO <br />BE A STUDY PROJECT, AUTHORIZING STUDIES TO <br />ESTABLISH THE FEASIBILITY OF THE BURBANK POWER <br />PLANT (AKA MAGNOLIA POWER PROJECT), AND <br />AUTHORlZING THE COLLECTION AND EXPENDITURE <br />OF CERTAIN FUNDS ]RELATED THERETO <br />WHEREAS, the City of Burbank owns a generating station site located in the City of <br />Burbank (the "Site"); and <br />WHEREAS, the City of Burbank has commenced preliminary feasibility studies for the <br />construction and operation of a new combined cycle generating unit with capacity of <br />approximately 240 to 270 megawatts at the Site (the "Burbank Power Plant, aka Magnolia Power <br />Project") that is expected to be financially competitive in future electricity markets and that <br />would help protect its customers from price volatility; and <br />WJAEREAS, the City of Burbank and the Southern California Public Power Authority <br />(the "Authority") believe that the Magnolia power Project (together with possible future <br />generating facilities undertaken by the Authority) will enhance reliability as a result of <br />diversification of generating resources; and <br />WHEREAS, the City of Burbank has requested that the Authority make the proposed <br />Magnolia Power Project a "Study Project" as provided in the Authority's Joint Powers <br />Agreement, dated as of November 1, 1980 (as amended, the "Joint Powers Agreement"), with <br />the ability for other members of the Authority to participate; and <br />WHEREAS, certain other members of the Authority have indicated an interest in <br />participating in the Study Project; and <br />WHEREAS, to expedite the commencement of work relating to the Study Project, the <br />City of Burbank has agreed to pay all costs of the Study Project (other than any costs paid <br />pursuant to the Authority's Resolution No. 2000-28) until such time as one or more other <br />members of the Authority agree to share the costs of the Study Project; and <br />WHEREAS, the City of Burbank has expressed its desire to have other members of the <br />Authority agree as soon as possible (but not later than December 1, 2000) to share the costs of <br />the Study Project (each member that so agrees being referred to as a "Study Project Participant"); <br />and <br />WHEREAS, a Study Project Participant may withdraw from the Study Project at any <br />time (subject to paying its applicable portion of costs incurred prior to such withdrawal); and <br />WHEREAS, the City of Burbank has requested that the Authority enter into all necessary <br />or desirable contracts and other arrangements to facilitate the Study Project; and