Resolution No. 5148
"
1
2
3
4
5
RESOLUTION NO. 5148
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. 929 provides for an Energy Cost,
6 Adjustment Billing Factor and for changes in such billing factor
7 to be made from time to time by resolutions of the City Council
8 of the City of Vernon when, in the City Council's opinion, such
9 changes are necessary for the sound financial position of the
10 Light and Power Operating Funds; and
11 WHEREAS, the Energy Cost Adjustment Billing Factor
12 adopted in previous Resolution No. 5128 has produced a defic~t
13 in the energy cost adjustment account; and
14 WHEREAS, the "Report on Rate Design" adopted by the
15 City Council provides that surpluses or deficits in the energy
16 cost adjustment account should be considered in determining the
17 Energy Cost Adjustment Billing Factor to be applied in future
18 quarters; and
19 WHEREAS, the projected Energy Cost Adjustment Billing
20 Factor in the wholesale market has been and continues to be
21 subject to wide variations; 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 customers to project their future financial needs; and
26 WHEREAS, the City Council of the City of Vernon finds
27 and determines that the accumulated deficit should be debited
28
1 to the Energy Cost Adjustment Billing Factor during the next
2 quarter.
3 ~OW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
4 THE CITY OF VERNON AS FOLLOWS:
5
SECTION I: That the City Council of the City of Vernon
6 finds and determines that the recitals contained hereinabove are
7 true and correct.
8
SECTION 2: That the City Council of the City of Vernon
9 does hereby adopt an Energy Cost Adjustment Billing Factor of
10 positive 0.4999 per kilowatt hour on electrical energy sold to
11 its electrical customers.
12
13
14
15
16
SECTION 3: That the effective date of said Energy
Cost Adjustment Billing Factor shall be November 1, 1984, and
shall continue until rescinded or amended by resolution of the
City Council of the City of Vernon.
SECTION 4: That effective November 1, 1984, this
17
Resolution rescinds existing Energy Cost Adjustment Billing
18
19
20
21
22
23
24
25
26
27
28
Factor Resolution No. 5128.
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.
October, 1984.
APPROVED AND ADOPTED
ATTEST: ~ ~ ~
,~~,C~
BRUCE V. MALKENHORST, City Clerk
-2-
4
5
'6
7
8
9
10
11
12
13
14 (SEAL)
. .
1 STATE OF CALIFORNIA )
) ss.
2 COUNTY OF LOS ANGELES )
3
I, BRUCE V. MALKENHORST, City Clerk of the City of
Vernon, do hereby certify that the foregoing Resolution, being
Resolution No. 5148 , was duly adopted by the City Council of
the City of Vernon, and was approved by the Mayor of said City
Ian adjourned
at ~ regular meeting of the City Council held on Tuesday,
October 16
, 19 84
~~~44A
BRUCE V. MALKENHORST, City
Clerk
15
16
17
18
19
20
21
22
23
24
25
26
27
28
-3-