HomeMy WebLinkAboutReso. 1985 - 058 - Ratifying and confirming execution by the mayor and the city clerk of a member agreement and transfer agreement between northern california power agency RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
RATIFYING AND CONFIRMING EXECUTION BY THE MAYOR AND THE CITY
CLERK OF A MEMBER AGREEMENT AND TRANSFER AGREEMENT BETWEEN
NORTHERN CALIFORNIA POWER AGENCY AND CERTAIN PARTICIPATING
MEMBERS.
WHEREAS, by Ordinance No. 1597 the City Council of the City
of Redding authorized the Mayor and the City Clerk to execute and
deliver the Agreement for Construction, Operation and Financing
of the North Fork Stanislaus River Hydroelectric Development
Project dated as of September 1 , 1982 (the "Member Agreement") ;
WHEREAS , by Ordinance No. 1597 the City Council of the City
of Redding authorized a Project Entitlement Percentage (as such
term is defined in the Member Agreement) of the City of Redding
of nine and ninety one hundredths percent (9. 91%) and authorized
the Project Entitlement Percentage of the City of Redding to be
increased (to a percentage not to exceed thirty three and seventy
two one hundredths percent (33 . 72%) as shall be determined by the
City Council of the City of Redding) ;
WHEREAS , the Mayor and the City Clerk executed and delivered
said Member Agreement which includes a Project Entitlement
Percentage of the City of Redding of ten and four one hundredths
percent (10 . 04%) ; and
WHEREAS , by Resolution 85-46 the City of Redding has author-
ized entering into an Agreement for Transfer of Rights to Capa-
city and Energy of the North Fork Stanislaus River Hydroelectric
Development Project dated as of February 1 , 1985 with certain (-)
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other participants in the Project whereby the City of Redding
would transfer its ten and four one hundredths percent (10. 04%)
Project Entitlement Percentage;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Redding as follows:
Section 1. The action of the Mayor and the City Clerk in
executing and delivering the Member Agreement with a Project
Entitlement Percentage of ten and four one hundredths percent
(10 . 04%) is hereby ratified and confirmed in all respects.
Section 2. The authorization of the Transfer Agreement and
the execution and delivery of the Transfer Agreement by the Mayor
and the City Clerk are hereby ratified and confirmed in all
respects.
I HEREBY CERTIFY that the foregoing resolution was intro-
duced and read at a special meeting of the City Council of the
City of Redding on the 27th day of March, 1985 , and was duly
adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Demsher, Fulton, and Kirkpatrick
NOES : COUNCIL MEMBERS : None
ABSENT: COUNCIL MEMBERS: Gard, Pugh
ABSTAIN: COUNCIL MEMBERS: None
AZiet,"142 -/ >"
HOWARD D. KIRKPA RICK, Mayor
City of Redding
ATTEST:
ETHEL A. NICHOLS , City Clerk
FORM APPROVED:
eXA—,
RANDALL A. HAYS, itl Attorney
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