Resolution No. 5365
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
RESOL~IOB 80. 5365
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON APPROVING AND RATIFYING THE EXECUTION
OF AN ESCROW AGREEMENT WITH FIRST INTERSTATE
BANK TO PROVIDE AN ESCROW ACCOUNT TO FACILITATE
THE CONTRIBUTION OF FUNDS THAT THE CITY OF
VERNON IS ADVANCING PURSUANT TO THE CONTRACT
WITH THE UNITED STATES DEPARTMENT OF THE
INTERIOR, BUREAU OF RECLAMATION, BOULDER
CANYON PROJECT, CONTRACT NO. 7-07-30-P1029
WHEREAS, the City Council of the City of Vernon adopted
Resolution No. 5356 on January 6, 1987, which approved and
authorized the execution of Contract No. 7-07-30-P1029 between
the United States Department of the Interior, Bureau of Reclama-
tion, Boulder Canyon Project and the City of Vernon for the
Uprating Program at the Hoover Powerplant: and
WHEREAS, the Bureau of Reclamation is permitting the
City of Vernon to enter into an escrow account to facilitate the
contribution of funds pursuant to said Contract: and
WHEREAS, the use of an escrow account will decrease the
amount of the City's ultimate cost in the project.
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
does hereby find and determine that the recitals contained
hereinabove are true and correct.
SECTION 2: That the City Council of the City of Vernon
hereby approves and ratifies the execution of said escrow agree-
ment by Bruce V. Malkenhorst, the City Administrator/City Clerk,
on January 22, 1987, a copy of which has been presented to the
City Council concurrently with this resolution during the City
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20'
21
22
23
24
25
26
27
28
.
1 Council meeting held on January 27, 1987, and the City Council
orders said escrow agreement to be received and filed by the City
Clerk.
SECTION 3: 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.
.~ ' \
~~,~ "~i'~i. ..
~EONIS C. MAL~aYOr y
'--
ATT?' ~
D/1~~ t/ ~n ..
BRUCE V. MALKENHORST. 1t~
-2-
, .
. 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20.
21
22
23
24
25
26
27
28
#
STATE OF CALIFORNIA )
)ss
COUNTY OF LOS ANGELES)
I, BRUCE V. MALKENHORST, the duly appointed and
qualified City Clerk of the City of Vernon, California, do hereby
certify that the foregoing Resolution, being Resolution No. 5365,
is a true, accurate, and complete copy of a Resolution duly
passed and adopted by the City Council of the City of Vernon at
an adjourned regular meeting of the City Council of the City of
Vernon, California, held on Tuesday, January 27, 1987.
Dated:
By:
$~<<d~~
Title:
City Clerk
(SEAL)
-3-