Resolution No. 4850
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RESOLUTION NO. 4850
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
CONSm1.ERS
6 WHEREAS, Ordinance No. 911 provides for an Energy
7 Cost Adjustment Billing Factor and for changes in such billing
8 factor to be made from time to time by resolutions of the City
9 Council of the City of Vernon when, in the City Council's opinion
10 such changes are necessary for the sound financial position of
11 the Light and Power Operating Funds; and
12 WHEREAS, the Energy Cost Adjustment Billing .Factor
13 adopted in Resolution No. 4820 has produced a surplus in the
14 energy cost adjustment account; and
15 WHEREAS, the "Report on Rate Design" adopted by the
16 City Council provides that surplus in the energy cost adjustment,
17 account should be considered in determining the Energy Cost
18 Adjustment Billing Factor to be applied in future quarters; and
19 WHEREAS, the projected Energy Cost Adjustment Billing
20 Factor in the wholesale market has been 'subject to wide
21 variations in the last six (6) months; and
22 WHEREAS, the City Council of the City of Vernon deems
23 it necesSary that the Energy Cost Adjustment Billing Factor be
24 as constant and stable as possible in order to allow the
25 cus;tomersto project their future financial needs; and
26 WHEREAS, the City Council of the City of Vf:rnon finds
27 and determines that the accumulated surplus should be credited
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2 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
3 THE CITY OF VERNON AS FOLLOWS:
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SECTION 1: 1hat 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 Vernon
8 does hereby adopt an Energy Cost Adjustment Billing Factor of
9 0.7 48t per kilbwatthour on electrical energy sold to its
10 electrical customers.
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SECTION 3: That the effective date of said Energy
12 Cost Adjustment Billing Factor shall be November 1, 1981,
13 and shall continue until rescinded or amended by resolution of
14 the City Council of the City of Vernon.
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SECTION 4: That this Resolution rescinds existing
16 Energy Cost Adjustment Billing Factor Resolution No. 4820.
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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 27th day of October, 1981.
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BRUCE V. MALKENHORST, City Clerk
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1 STATE OF CALIFORNIA )
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2 COUNTY OF LOS. ANGELES )
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4 I, BRUCE V. MALKENHORST, City Clerk of the City of
5 Vernon, do hereby certlfythat the. foregoing Resolution, being
6 Resolution NO. 4850
,was duly adopted by the City Council
7 Of .the City of Vernon, and was approved py the Mayor of said
8 City at an adjourned meeting of the City Council held on Tuesday,
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October 27
I 19 81.
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BRUCE V. MALKENHORST,. city Clerk
(SEAL)
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