HomeMy WebLinkAboutRESO 9703170808 jb 6053990
Resolution No. 9703
Resolution of the Council of the City of Palo Alto Approving a
Standard Form Master Agreement for the Purchase and Sale of
Verified Emission Reductions
RECITALS
A. On December 5, 2016, the Council adopted Resolution 9649 approving a
Carbon Neutral Natural Gas Plan to achieve a carbon neutral gas portfolio by fiscal year
2018 with no greater than a 10¢/therm rate impact.
B. In accordance with the Carbon Neutral Plan, the City must purchase
environmental offsets or verified emission reductions equal to the annual emissions from
natural gas use by all City of Palo Alto Natural Gas Utility customers.
C. By Ordinance 5387 adopted August 15, 2016, Council approved changes to
the Municipal Code specifically streamlining the purchase and sale of wholesale utility
commodities and services and explicitly allowing for standard form Master Agreements.
D. Negotiated Master Agreements with specific verified emission reduction
gas suppliers will be recommended to Council for approval with maximum expenditure
limits and transaction terms.
NOW, THEREFORE, the Council of the City of Palo Alto RESOLVES as
follows:
SECTION 1. The Council hereby approves that attached standard form Verified
Emission Reduction Master Agreement.
SECTION 2. The Council waives the application of the investmentgrade credit rating
requirement of Section 2.30.340(c) of the Palo Alto Municipal Code, which applies to energy
companies that do business with the City.
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DocuSign Envelope ID: EEE7FCF3-601F-4D93-81FC-EBFE75A7C5CB
170808 jb 6053990
SECTION 3. Adoption of this Resolution is not subject to California
Environmental Quality Act (CEQA) review as an administrative governmental activity that will
not result in any direct or indirect physical change to the environment as a result (CEQA
Guidelines section 15378(b)(5)).
INTRODUCED AND PASSED: August 21, 2017
AYES: DUBOIS, FILSETH, FINE, HOLMAN, KNISS, KOU, TANAKA, WOLBACH
NOES:
ABSTENTIONS:
ABSENT: SCHARFF
ATTEST:
City Clerk Mayor
APPROVED AS TO FORM: APPROVED:
Counsel to the City of Palo Alto City Manager
Director of Administrative Services
Director of Utilities
DocuSign Envelope ID: EEE7FCF3-601F-4D93-81FC-EBFE75A7C5CB
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