Resolution No. 5163
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RESOLUTION NO. 5163
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON CHANGING THE ENERGY COST ADJUSTr~NT
BILLING FACTOR CHARGED FOR ELECTRICAL ENERGY
DISTRIBUTED AND SUPPLIED TO ITS ELECTRICAL
CONSm.1ERS
6 WHEREAS, Ordinance No. 929 provides for an Energy Cost
7 Adjustment Billing Factor ("ECABF") and for changes in such
8 billing factor to be made from time to time by resolutions of
9 the City Council of the City of Vernon when, in the City
10 Council's opinion, such changes are necessary for .the sound
11 financial position of the Light and Power Operating Funds; and
12 WHEREAS, the ECABF adopted in previous Resolution No.
13 5148 has produced a deficit in the energy cost adjustment
14 account; and
15 WHEREAS, 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 the
18 ECABF to be applied in future quarters; and
19 ~ffiEREAS, the projected ECABF in the wholesale market
20 has been and continues to be subject to wide variations; and
21 WHEREAS, the City Council of the City of Vernon deems
22 it necessary that the ECABF be as constant and stable as
23 possible in order to allow the customers to project their future
24 financial needs; and
25 WHEREAS, the City Council of the City of Vernon finds
26 and determines that the accumulated deficit should be debited
27 to the ECABF during the next quarter.
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1 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
2 THE CITY OF VERNON AS FOLLOWS:
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SECTION 1: That the City Council of the City of Vernon
finds and determines that the recitals contained hereinabove are
true and correct.
SECTION 2: That the City Council of the City of Vernon
7 does hereby adopt an ECABF of minus 1.353t per kilowatt hour
8 on electrical energy sold to its electrical consumers.
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SECTION 3: That the effective date of said ECABF
10 shall be February 1, 1985, and shall continue until rescinded
11 or amended by resolution of the City Council of the Citv of
12 Vernon.
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SECTION 4: That effective February 1, 1985, this
14 Resolution rescinds existing ECABF Resolution No. 5148.
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SECTION 5: That the City Clerk of the City of Vernon
16 shall certify to the passage of this Resolution and thereupon
17 and thereafter the same shall be in full force and effect.
18 APPROVED AND ADOPTED this 21st day of January, 1985.
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r LEONIS C. MALBU G, Mayo
A~~a/#/~
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 certify that the foregoing Resolution, being
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Resolution NO.S163
, was duly adopted by the City Council
7 of the City of Vernon, and was approved by the Mayor of said
8 City at an adjourned meeting of the City Council held on
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June 21
, 19 85.
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BRUCE V. MALKENHORST, City Clerk
(SEAL)
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