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HomeMy WebLinkAboutORD 3467. . • • ORDINANCE NO. 3467 ORDNINACE OF THE CITY COUNCIL OF THE EITY OF PALO ALTO APPROVING THE TERMS AND CONDITIONS OF A MEMBER J..\GREEMENT BETWEEN NORTHERN CALIFORNIA POWER AGENCY AND CERTAIN PARTICIPATING MEMBERS AND AUTHORIZING THE EXECUTION OF AND DELIVERY OF SAID AGREEMENT BY OFFICER OF THE CITY OF PALO ALTO WHE:t{EAS, pursuant to the provisions of Chapter 5, Division 7 ~ Title ·1 of the Government Code of the State of California, as amended (the ~Joint Powers Act"), the City of Palo Alto (the "City") and cer­ tain other public agencies created pursuant to the laws of the State of Cali. forn ia (collE-ctively, the "Hembers"} 1 have entered in t.o a Joint Powers .:t~.greement (the 11 Agreement" ) creating the Northern Cali to-rn i a Power Agency (the 11 Agency 11 ) p a public entity separate and apart from the Members; and WHEREAS, in accordance 'N"i th the P. .. qre~ment and the Joint Powei"s Agreement, the Agency proposes to acquire and construct o~ cause to be acquired and constructed and to operate or cause to be operated a pro­ ject (the "Project") consisting of (i) two 55-megawatt geothermal generating units, and related facilities, including transmission facilities to the generating tie, in the State of California, and all rights, properties ~nd improvements necessary therefor, including fuel and \~ater faci 1 it ies and resources, and capital improvements thereto that may be cons true ted from time to t. ime ~ and interests in certain other prop€rty and rights relating ther-eto, i ncl ud i ng a heodquartet's f ac il i ty for use by the Agency in connect ion with the l?roj ect ~ { i i) Project No. 2, subject to the rights of the participants therein; and {iii) the ref\nancing of certain Development Fund expenditures; and WHEREAS, the City has need for an economical, reliable source of electric power and energy to meet the demands of the customers of its electric system, and, as such; WHEREAS, this City Council finds and determines that it is ~n the best interests of the customers of the electric system of the City for the City to enter into the Agreement for constru~tion, operation and finan6ing of Geothermal Generating Project N11mber 3 (the •Member Agreement 11 ) in substantially the form submitted to this City Council and dated for convenience as of July 1, 19831 WHEREAS, this City Council finds and determines that it is in the best interests of the customers of the electric system of the City for the City to purchase electric capacity and energy of the Project from the Agency; WHEREAS, )?ayments by the City pursuant to the Member Agreement will be used in part by the .Agency for payment of principal of and interest on its bonds, notes or other evidences of indebtedness issued in connection with the construction, operation and financing of the Project. • • • NOW, THEREFORE, the Council of the City of Palo Alto does ORDAIN as follows: 1. ThE! Cit,y Council hereby finds and determines that the ter:ms and conditions of the Member l>.greement (including the East Block En­ titlement Percentag~ and the Project Bntitlement Percentage of the City set forth in Appendix A ther~to) in substantially the form submitted to this City Council be, and the same are hereby, approved. 2. The East Block Entitl~ment Percentage of the City as set forth in Appendix A. to said Member .Zl..greement may not be increased without consent of the City Council. 3. The City is hereby authorized to enter into the Member Agree­ ment and the Mayor and the City Manager are hereby authorized to exe­ cute and deliver the Member Agreement by and on behalf of the City. 4. Pursuant to Section 54241 of the Government Code of the State of California, this Ordinance is subject to the provisions for referen­ dum applicable to the City. 6. 'l'he City Clerk shall cet·tify to the enactment of this Ordi- nance and shall cause this Ordinance to be published in accordance with Section 54242 of the Government Code of the State of Calitornia. 7. The Council finds that this ordinance is exempt from the ap­ plication of the California E:nv i ronmental Qual.i ty A~t in accordance with Public Resources Code §21080(b)(6). 8. This Ordinance shall become effective upon the commencement of the thirty-first day after the day of its passage. INT.RODUCED: PASSED: August 22, 1983 September 12, 1983 AYES: Bechtel J Cobb, Eyerly, Fazzino, Fletcher, Klein, Levy, Renzel, Witherspoon NOES; None None ABS8NT~ APPROVEf): Ctty C}~tk . / ~~ / D AS TG F'ORM~ ~~~·~~~~~~~/_·~---s . 1or ~stant Clty Attorney I 2. " • ' ~ f A~e->7·-­D uectOi:O f ut Ll it as ~ • 3.