Resolution No. 5128
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RESOLUTION NO. 5128
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
6 WHEREAS, Ordinance No. 929 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, the Energy Cost Adjustment Billing Factor
13 adopted in previous Resolution No. 5099 has produced a deficit
14 in the energy cost adjustment account; and
15 WHEREAf?, the "Report on Rate Design" adopted by' the
16 City Council provides that surpluses or deficits in the energy
17 cost adjustment account should be considered in determining
18 the Energy Cost Adjustment Billing Factor to be applied in
19 future quarters; and
20 liHEREAS, the projected Energy Cost Adjustment Billing
21 Factor in the wholesale market has been and continues to be
22 subject to wide variations; and
23 WHEREAS, the City Council of the City of Vernon deems
24 it necessary that the Energy Cost Adjustment Billing Factor be
25 as constant and stable as possible in order to allow the
26 customers to project their future financial needs; and
27 WHEREAS, the City Council of the City of Vernon finds
28 and determines that the accumulated deficit should be debited
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1 to the Energy Cost Adjustment Billing Factor during the nex.t
2 quarter.
3 NOW, THEREFORE., BE +T RESOLVED BY THE CITY COUNCIL OF
4 THE CITY OF VERNON AS FOLLOWS:
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SECTION 1: That the City Council of the City of Vernon
6 finds and determines that the recitals contained hereinabove are
7 true and correct.
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SECTION 2: That the City Council of the City of Vernon.
9 does hereby adopt an Energy Cost Adjustment Billing Factor of
19 minus 0.6l9t per kilowatt hour on electrical energy sold to its
11 electrical customers.
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SECTION 3: That the effective date of said Energy
13 Cost Adjustment Billing Factor shall be August 1, 1984, and
14 shall continue until rescinded or amended by resolution of the
15 City Council of the City of Vernon.
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SECTION 4: That effective August 1, 1984, this
17 Resolution rescinds ex.isting Energy Cost Adjustment Billing
18 Factor Resolution No. 5099.
SECTION 5: That the City Clerk of the City of Vernon
shall certify to the passage of this Resolution and thereupon
and thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 17th day of July, 1984.
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AT~T: / // ; RONIS C. ~IAL URG, M or
~~//rfMn/~
BRUCE V. MALKENHORST, City Clerk
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STATE OF CALIFORNIA )
) SSe
COUNTY OF LOS ANGELES )
I, BRUCE V. MALKENHORST, City Clerk of the City of
do hereby certify that the foregoing Resolution, being
, was duly adopted by the City
the City of Vernon, and was approved by the Mayor of
an adjourned
~ regular meeting of the City Council held on Tuesday,