HomeMy WebLinkAboutReso 93-018 - Authorize electric utility staff to purchase, sell & exchange Short-Term power II 11
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RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING ELECTRIC UTILITY STAFF TO PURCHASE, SELL,
AND EXCHANGE SHORT-TERM POWER, AND THE CITY MANAGER TO
EXECUTE THE VARIOUS CONTRACTS UPON APPROVAL OF THE CITY
ATTORNEY.
WHEREAS, in order to maximize the benefits associated with
the short-term power market, the City of Redding' s Electric
Utility operating personnel need the flexibility to make
purchases, sales, and exchanges of power, transmission capacity,
and other Electric Utility-related commodities available hour-by-
hour in the short-term (one year or less) power market; and
WHEREAS, in order to ensure that transactions in the short-
term power market can be accomplished promptly, and to ensure
that such transactions are in the best interests of the
ratepayers, the Electric Department recommends that the City
Council delegate authority to accomplish such transactions on a
limited basis;
NOW, THEREFORE, IT IS HEREBY RESOLVED that the City Council
of the City of Redding:
1. Deems it in the best interests of the City of Redding
ratepayers that transactions in the short-term power market be
accomplished promptly.
2. Authorizes the City Manager or his designee to execute
the enabling contracts between the City of Redding and other
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entities engaged in the purchase, sale, and exchange of power for
short-term (one year or less) power transactions, upon approval
as to form by the City Attorney, and attested by the City Clerk.
3 . Authorizes the Electric Utility Director or his
designee to approve the transactions contemplated under the terms
and conditions of any executed enabling contract.
I HEREBY CERTIFY that the foregoing Resolution was
introduced and read at a regular meeting of the City Council of
the City of Redding on the 19th day of January , 1993, and was
duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Anderson, Arness, Dahl, Kehoe & Moss
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
CHARLIE MOSS, Mayor
City of Redding
AST:,
CONNIE STROHMAYER City Clerk
FORM PROVED:
iA6ALL A. HAYS, City Attorney
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