Resolution No. 4820
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RESOLUTION NO. 4820
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
WHEREAS, Ordinance No. 911 provides for an Energy Cost
Adjustment Billing Factor and for changes in such billing factor
to be made from time to time by resolutions of the City Council
of the City of Vernon when in the City Council's opinion, such
changes are nec~ssary for the sound financial position ,of the
Light and Power Operating Fundsi and
WHEREAS, the Energy Cost Adjustment Billing Factor
adopted in Resolution 4794 has produced a surplus in the
energy cost adjustment accounti and
WHEREAS, the "Report on Rate Design" adopted by the
City Council provides that surplus in the energy cost adjustment
account should be considered in determining the Energy Cost
Adjustment Billing Factor to be applied in future quartersi and
WHEREAS, the projected Energy Cost Adjustment Billing
Factor in the wholesale market has been subject to wide
variations in the last six (6) monthsi and
WHEREAS, the City Council of the City of Vernon deems
it necessary that the Energy Cost Adjustment Billing Factor be
as constant and stable as possible in order to allow the
customers to project their future financial needsi and
WHEREAS, the City Council of the City of Vernon finds
and determines that the accumulated surplus should be credited
to the Energy Cost Adjustment Billing Factor during the next
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1 quarter.
2 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
3 THE CITY OF VERNON AS FOLLOWS:
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SECTION 1: That the City Council of the City of
5 Vernon finds and determines that the recitals contained herein-
6 above. are true and correct.
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SECTION 2: That the City Council of the City of Verno
8 does hereby adopt an Energy Cost Adjustment Billing Factor of
9 negative ( -) .54.2 perkilowatthour on electrical energy sold.. to
10 its electrical customers.
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SECTION 3: That the effective date of said Energy
12 Cost Adjustment :Billing Factor shall be July 16, 1981, and shall
13 continue until rescinded or amended by a resolution of the City
14 Council of the City of Vernon.
15 SECTION 4: That this Resolution rescinds existing
16 Energy Cost Adjustment Billing Factor Resolution No. 4794.
17 SECTION 5: That the City Clerk of the City of Vernon
18 shall certify to the passage of this Resolution and thereupon
19 and thereafter the same shall be in full force and effect.
20 APPROVED AND ADOPTED this 7th day of July, 1981.
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~1ayor
ATTEST:
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BRUCE V. MALKENHORST, City Clerk
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1 STATE OF CALIFORNIA
SSe
2 COUNTY OF LOS ANGELES
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4 I, BRUCE V. MALKENHORST, City Clerk of t~e City of
5 VernQn, do hereby certify that the foregoing Resolution, being
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Resolution No.4820
, was duly adopted by the City Council
7 of the City of Vernon, and was approved by the Mayor of said
8 City at a regular meeting of the City Council held on Tuesday,
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BRUCE V. ~~LKENHORST,
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July 7
, 19' 81.
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