Resolution No. 5362
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RESOLU"rIOI1 110. 5362
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
Adjustment Billing Factor ("ECABF") and for changes in such bill-
ing factor to be made from time to time by resolutions of the
City Council of the City of Vernon when, in the City Council's
opinion, such changes are necessary for the sound financial posi-
tion of the Light and Power Operating Funds: and
WHEREAS, the ECABF adopted in previous Resolution No.
5338 has produced a deficit in the energy cost adjustment
account: and
WHEREAS, Resolution No. 5342, adopted by the City Coun-
cil of the City of Vernon on December 16, 1986, provides a
methodology to compute the ECABF that reduces the degree of rate
fluctuations, includes data from Vernon's resources, and provides
a stable ECABF rate level: and
WHEREAS, the City Council of the City of Vernon hereby
intends to approve a new ECABF for future time periods in accord-
ance with Resolution No. 5342 in order to allow the customers of
the City of Vernon to project their future financial needs in a
reasonable manner.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF VERNON AS FOLLOWS:
SECTION 1: That the City Council of the City of Vernon
finds and determines that the recitals contained hereinabove are
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,.
...
1 true and correct.
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SECTION 2: That the City Council of the City of Vernon
3 does hereby adopt an ECABF of Negative $.02649 per kilowatt hour
4 on electrical energy sold to its electrical consumers.
SECTION 3: That the effective date of said ECABF shall
be February 1, 1987, and shall continue until rescinded or
amended by resolution of the City Council of the City of Vernon.
SECTION 4:
That effective February 1, 1987, this
resolution rescinds existing ECABF Resolution No. 5338.
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 27th day of January, 1987.
~.
&~~~
BRUCE V.. 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. 5362
, 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 ~!regular meeting of the City Council held on Tuesday,
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January 27
, 19 87 .
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