Resolution No. 5563
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RESOLUTION NO~5563
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.
5545 has produced a deficit in the energy cost adjustment account;
and
WHEREAS" Resolution No. 5342" adopted by the City
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methodology to compute the ECABF that reduces the degree of rate
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Council of the City of Vernon on December 16" 1986" provides a
fluctuations" includes data from Vernon's resources" and provides
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a stable ECABFrate 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
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the City of Vernon to project their future financial needs in a
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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 ~
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Vernon finds and determines that the recitals contained hereinabov
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1 are true and correct .
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SECTION 2: That the City Council of the City of
3 Vernon does hereby adopt an ECABF of negative $0.01001 per
4 kilowatt hour on electrical energy sold to its electrical
5 consumers.
6 SECTION 3: That the effective date of said ECABF
7 shall be November 1, 1988, and shall continue until rescinded or
8 amended by resolution of the City Council of the City of Vernon.
9 SECTION 4: That Bffective November 1, 1988, this
10 resolution rescinds existing ECABF Resolution No. 5545.
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SECTION 5: That the City Clerk of the City of Vernon
12 shall certify to the passage of this resolution and thereupon
13 and thereafter the same shall be in full force and effect.
14 APPROVED AND ADOPTED this 25th day of October, 1988.
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ATTEST:
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BRUCE V. MALKENHORST, City Clerk
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STATE OF CALIFORNIA )
) SSe
COUNTY OF LOS ANGELES)
I, BRUCE V. MALKENHORST, City Clerk of the City of
Vernon, do hereby certify that the foregoing Resolution, being
Resolution No. 5563, was duly adopted by the City Council of
the City of Vernon, and was approved by the Mayor 01' said City
at a regular meeting of the City Council held on Tuesday,
October 25, 1988.
(SEAL)