HomeMy WebLinkAboutReso 2009-039 - Balancing Authority of Northern Califoria
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RESOLUTION NO. 2009 - 39
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDDING AUTHORIZING THE MAYOR TO SIGN A JOINT
EXERCISE OF POWERS AGREEMENT CREATING THE
BALANCING AUTHORITY OF NORTHERN CALIFORNIA.
WHEREAS, the City of Redding Electric Utility (City), along with the Sacramento
Municipal Utility District, the Modesto Irrigation District, and Roseville Electric, desires to enter
into a Joint Exercise of Powers Agreement (Agreement) for the creation of a Joint Powers Agency
(Agency) to be known as the Balancing Authority of North em California (BANC) in order to further
the Parties' mutual interest in specifically providing Balancing Authority services, as well as other
activities in connection with the production, procurement, and/or sale of electric power and energy,
facilities, and resources; and
WHEREAS, the City has reviewed the Agreement that has been prepared in accordance with
and pursuant to the California Joint Exercise of Powers Act, consisting of Sections 6500 through
6599.2 of the Government Code of the State of California; and
WHEREAS, the City has determined that the creation ofthe BANC and the issuance of the
bonds by the BANC is desirable and furthers the public purposes of the City, and that there are
significant public benefits to be derived from securing the assistance of the BANC in financing
future projects in that the City will benefit from demonstrable savings in the cost of financing future
projects through the BANC; and
WHEREAS, in order to achieve such public purpose and in accordance with the Agency
Agreement, the City desires to approve the BANC's issuance of revenue obligations in the future;
and
WHEREAS, any proposed project to be developed by the BANC would be brought back
before the City Council for the City's participation authorization prior to any commitment from the
City to issue project-specific bonds; and
NOW, THEREFORE, IT IS RESOLVED that the City Council of the City of Redding
approves the following:
1.
Formation of Joint Powers Agencv. The City Council authorizes the creation of an Agency
between the City of Redding, the Sacramento Municipal Utility District, the Modesto
Irrigation District, and Roseville Electric, to be known as the BANC. The City Council
approves and authorizes the Mayor to execute and the City Clerk to attest an Agreement
forming the Agency, in substantially the form on file with the City Clerk, together with any
minor changes deemed advisable by the City Attorney.
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2.
Official Actions. The Mayor, City Manager, Director of the Redding Electric Utility, the City
Clerk, and all other proper officers of the City are authorized and directed to take all actions
and do all things necessary or desirable hereunder with respect to the formation of the
Agency including, but not limited to, the execution and delivery of any and all agreements,
certificates, instruments, and other documents which they, or any of them, may deem
necessary or desirable and consistent with the purposes of this Resolution.
3. Commission Appointments. In accordance with Section II of the Agreement, the Redding
Electric Utility Director is hereby appointed by the City Council to serve on behalf of the
City of Redding on the Commission for the BANC, and the Redding Assistant Electric
Utility Director/Resource Planning is hereby appointed by the City Council to serve on
behalf ofthe City of Redding as the Alternate Commissioner for the BANC.
4. Revenue Obligation Issuance. Prior to any issuance of Revenue Obligations by the BANC
in accordance with Section 13, the City's appointed commissioner would first seek
authorization from the City Council for Redding's participation in such projects.
5. Effective Date. This Resolution will take effect immediately upon its adoption and the
Agencywill be deemed effectively formed in accordance with the terms of Section 18 of the
Agreement.
I HEREBY CERTIFY that the foregoing Resolution was introduced, read, and adopted at
a regular meeting of the City Council on the 21st day of April, 2009, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Dickerson, Jones, McArthur, StegaU, and Bosetti
None
None
None
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RICK BOSETTI, Mayor
Attest:
Form Approved:
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CONNIE ~TROHMAYE
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RICHARD A. DUVERN , CIty Attorney
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