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RESOLUTION NO. 2000-37 <br />RESOLUTION OF THE SOUTHERN CALIFORNIA PUBLIC POWER <br />AUTHORITY AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE AN <br />AGREEMENT FOR CONSULTING SERVICES WITH <br />WTL TRADING <br />AND PROVIDING FOR ADDITIONAL CONTRIBUTIONS TO THE <br />AUTHORITY'S REVOLVING GENERAL FUND, AND TAKING CERTAIN <br />RELATED ACTION <br />(RESTRUCTURING) <br />WHEREAS, the Southern California Public Power Authority (the <br />Authority) owns interests in various generation and transmission projects, the <br />output of which has been sold to Members of the Authority; and <br />WHEREAS, the electric utility industry is being restructured so that <br />the providers of electricity will be in competition with each other; and <br />WHEREAS, such restructuring has resulted in many changes in the <br />electric utility industry which may affect the Authority generation and transmission <br />projects, and which require Authority Members to change the way they manage <br />their resources; and <br />WHEREAS, certain of the Authority Members have a need to retain <br />consultants to assist in the management of market and credit risks associated <br />with natural gas and purchased power portfolios; and <br />WHEREAS, the Authority is willing and able to retain VVTL Trading, <br />and to bill all expenses and costs of retaining such consultant to the Members <br />receiving service; and <br />WHEREAS, the Board of Directors of Authority, in its Resolution <br />No. 1990-15, established a revolving general fund (the General Fund) for the <br />payment of costs and expenses incurred by the Authority from time to time in <br />carrying out its purposes; and <br />WHEREAS, the Board of Directors of the Authority, in its Resolution <br />No. 1992-1, provided for the continuation of the General Fund and established a <br />procedure to be followed with respect to additional contributions to the General <br />Fund; and