Resolution No. 5221
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RESOLUTION NO. 5221
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 ("ECABF") and for changes in such
8 billing factor to be made from time to time by resolutions of the
9 City Council of the City of Vernon when, in the City Council's
10 opinion, such changes are necessary for the sound financial
11 position of the Light and Power Operating Funds; and
12 WHEREAS, the ECABF adopted in previous Resolution No.
13 5201 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 determininq the
18 ECABF to be applied in future quarters; and
19 WHEREAS, 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:
3 SECTION 1: That the City Council of the City of Vernon
4 finds and determines that the recitals contained hereinabove are
5 true and correct.
6 SECTION 2: That the City Council of the City of Vernon
7 does hereby adopt an ECABF of minus 0.184 per kilowatt hour on
8 electrical energy sold to its electrical consumers.
9 SECTION 3: That the effective date of said ECABF
10 shall be November 1, 1985, and shall continue until rescinded or
11 amended by resolution of the City Council of the City of Vernon.
12 SECTION 4: That effective November 1, 1985, this
13 resolution rescinds existing ECABF Resolution NO. 5201.
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SECTION 5: That the City Clerk of the City of Vernon
15 shall certify to the passage of this resolution and thereupon
16 and thereafter the same shall be in full force and effect.
17 APPROVED AND ADOPTED this 15th day of October, 1985.
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~ . EONIS C. MALBUR., Mayor
ATTEST:
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BRUCE V.
z/d~
MALKENHORST, City Clerk
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1 STATE OF CALIFORNIA )
) ss.
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
6 Resolution No. 5221 , was duly adopted by the City Council of
the City of Vernon, and was approved by the Mayor of said City
an adjourned
at/a regular meeting of the City Council held on Tuesday,
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October 15
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BRUCE v. MALKENHORS'l', City
Clerk
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