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MINUTES OF THE JULY 10, 1992 <br />SPECIAL MEETING OF THE <br />SOUTHERN CALIFOWIA PUBLIC POWER AUTHORITX <br />A special meeting of the Board of Directors was held on July 10, <br />1992, in the second-floor conference room of the Pasadena <br />Department of Water & Power, 150 South Los Robles, Suite 200, <br />Pasadena, California 91101 <br />The meeting was called to order at 10:15 a.m. by President <br />Ronald V. Stassi. <br />The following Board members (8) and alternates (A) ware present and <br />acting in their capacity as representative for their member city: <br />Richard Butryn, City of ~naheim (A), Ronald V. ~tassi, City of <br />Burbank (M), Michael Hopkins, City of Glendale (M), Dennis B. <br />Whitney, City of Los Angeles (A), Don Shakelford, City of Pasadena <br />(A), and Brian Thomas, City of Riverside (A). <br />Also present were: SCPPA Executive Director, Linda M. Lazzerino, <br />and SCPPA staff member Steven L. Homer. <br />Others attending were: Edward W. Long, Esquire, from Mudge Rose <br />Guthrie Alexander & Ferdon, Margaret Chan and ~illiam Baker, from <br />O'Brien Partners, Eric Seder and Michael Lissack, from Smith <br />Barney, Michael Fisher, from O'Melveny and Meyers, B C Monk, 'IrADWP <br />Director of Joint Venture Accounting, and William Williams, from <br />LADWP Finance and Accounting. <br />1. Matters related to the Southern Transmission Svstem <br />o Consideration of and action regarding the issuance and <br />sale of subordinate refunding revenue bonds (including <br />crossover special obligation bonds) far the Southern <br />Transmission System Project, including the approval of <br />authorization of related documentation, amendment of <br />Resolution No. 1992-20, delegation of authority, and <br />related matters. <br />Ms. Margaret Chan explained that market changes subsequent to <br />the June 12 mailing of the preliminary Official Statement <br />prompted changes in the structure of the refunding. Lower <br />interest rates have made it possible to improve savings by <br />including more bonds than originally considered. The <br />transaction size is now approximately $400 million (up from <br />$275 million) .