Resolution No. 4693
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RESOLUTION NO. 4693
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON CHANGING THE ENERGY COST ADJUSTMENT
BILLING FACTOR CHARGED FOR ELECTRICAL ENERGY
DISTRIBUTED AND SUPPLIED TO ITS ELECTRICAL
CONSUMERS
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6 WHEREAS, Ordinance No. 873 provides for an energy cost
7 adjustment billing factor and for changes in such billing factor
8 to be made from time to time by resolutions of the City Council
9 of the City of Vernon when, in the City Council's opinion, such
10 changes are necessary for the sound financial position of the
11 Light and Power Operating Funds; and,
12 WHEREAS, Edison has been authori.zed by the Federal
13 Energy Regulatory Commission to make monthly changes in the fuel
14 cost adjustment charged Vernon for resale power and Edison has
15 increased such fuel cost adjustments during the last several
16 months which has increased the cost of power purchased by the
17 City of Vernon from Edison; and,
18 WHEREAS, the City Council of the City of Vernon deems
19 it necessary for the sound financial position of the Light and
20 Power Operating Funds to increase the Vernon energy C9st
21 adjustment.
22 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
23 THE CITY OF VERNON AS FOLLOWS:
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SECTION I: That the City Council of the City of Vernon
25 does hereby adopt an Energy Cost Adjustment Billing Factor of
26 .9317<:/kwh net; which is the figure to be used after the application
27 of the 5% Vernon Discount on electrical energy sold to its
28 electrical customers.
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SECTION 2: That the effective date of said Energy
2 Cost Adjustment Billing Factor shall be January 25 , 1980, and
3 shall continue until resc~nded or amended by a resolution of
4 the City Council of the City of Vernon.
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SECTION 3: That this Resolution rescinds existing Fuel
6 Cost Adjustment Resolution No. 4617.
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SECTION 4: That the City Clerk of the City of Vernon
8 shall certify to the passage of this Resolution and thereupon and
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thereafter the same shall be in full force and effect.
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APPROVED AND ADOPTED this 15th day of January, 1980.
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/' ,- L~ONIS C. MALB G, Mayor A
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ATTEST:
B~~ORST'
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STATE OF CALIFORNIA
COUNTY OF LOS ~NGELES
SSe
I, BRUCE V. MALKENHORST, City Clerk of the City of
Verno,n, do hereby certify that the foregoing Resolution, being
Resolution No. 4693 , was duly adopted by the City Council
of the City of Vernon, and was approved by the Mayor of said
City at a regular meeting of the City Council held on Tuesday,
January 15, 1980.
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( SEAL)
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