Resolution No. 5352
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RESOLUTION NO. 5352
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON APPROVING. AND AUTHORIZING THE
EXECUTION OF CONSENT TO ASSIGNMENT OF
TRANSMISSION SERVICE AGREEMENTS BY AND BETWEEN
THE CITY OF VERNON AND SUNLAW COGENERATION
PARTNERS I
WHEREAS, the City Council of tl1e City of Vernon adopt~d
7 Resolution No. 5124 on July 3, 1984, whi.cl1 approved and
8 authorized the execution of a Transmission service Agreement by
9 and between Sunlaw Cogeneration Partners I (ISun1aw") and the
10 City of Vernon ("Vernon") for cogeneration facilities located at
11 Downey Road at 50th Street; and
12 WHEREAS, the City Council of the City.of Vex:-non adopted
13 Resolution No. 5125 on July. 3, 1984, which approved and
14 authorized the. execution of a Transmission S~rvice Agreement by
15 and between Sunlaw and Vernon for cogeneration faci1.i ties located
16 at the southwest corner of Vernon and Alcoa Avenues: and
17 WHEREAS, the City Council of the City of Vernon adopted.
18 by minute orders on July 17, 1984, a consent to assignment of the
19 Transmission Service Agreements for each of the cogeneratiOn
20' facilities: and
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WHEREAS, Sunlaw is in the process of refinancing its
22 construction loans on the two cogeneration projects and, as part
23 of the financing, it is requesting Vernon to consent to assign-
24 ment of.Sun1aw'sinterest in the Transmission Service Agreements
25 to Security Pacific National Bank, as Trustee for certain
26 lenders: and
27 WHEREAS, after negotiations among the staff. of Vernon,
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representatives of S.unlaw and the lender, Vernon desires to con-
sent to the assignment of Sunlaw's interest in t.he said Agre~...
ments in order not to impede the two projects.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF VERNON AS FOLLOWS:
SECTION 1: That the City Council of t.heCit.y of Vernon
hereby finds and determines that the recitals contained
hereinabove are true and correct.
SECTION 2: That the City Council of the City of Verpon
hereby approves the ConsE7nt t.oAssignment ofTJ,"ansmission Service;)
Agreements, a copy of which has been present.ed to the . City. <Coun-
cil concurrently with this resolution and theCit.y Council h~r~by
orders said Consent to be received and filed by the Cit.y Clerk.
SECTION 3: That the City Council of the City of Vernon
hereby authorizes the Mayor and the City Clerk to execute said
Consent for, and on behalf of, the City of Vernon.
SECTION 4: 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 16th day of December, 1986.
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A~~ST. ~
q~j/4~
BRUCE V ..~KENHORST, City Clerk
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STATE OF.CALIFORNIA )
) ss.
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., bein.g
6 Resolution No. 5352
, was duly adopted by the. City Council of
7 the City of Vernon, and was approved by the Mayor of said City
an adjourned
8 at >a{lregular meeting of the City Council held on Tuesday,
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December 16
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BRUCE V,MALKENHORST, . Ci ty
Clerk
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