Resolution No. 5622
1 RESOLUTION NO. 5622
2 A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF VERNON CHANGING THE ENERGY COST
3 ADJUSTMENT BILLING FACTOR CHARGED FOR
ELECTRICAL ENERGY DISTRIBUTED AND SUPPLIED
4 TO ITS ELECTRICAL CONSUMERS
5 WHEREAS, Ordinance No. 929 provides for an Energy
6 Cost Adjustment Billing Factor ("ECABF") and for changes in
7 such billing factor to be made from time to time by
8 resolutions of the City Council of the City of Vernon when,
9 in the City Council's opinion, such changes are necessary for
10 the sound financial position of the Light and Power Operating
11 Funds; and
12 WHEREAS, the ECABF adopted in previous Resolution
13 No. 5588 has produced a surplus in the energy cost adjustment
14 account; and
15 WHEREAS, Resolution No. 5342, adopted by the City
16 Council of the City of Vernon on December 16, 1986, provides
17 a methodology to compute the ECABF that reduces the degree of
18 rate fluctuations, includes data from Vernon's resources, and
19 provides a stable ECABF rate level; and
20 WHEREAS, the City Council of the City of Vernon
21 hereby intends to approve a new ECABF for future time periods
22 in accordance with Resolution NO. 5342 in order to allow the
23 customers of the City of Vernon to project their future
24 financial needs in a reasonable manner.
25 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
26 OF THE CITY OF VERNON AS FOLLOWS:
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SECTION 1: That the City Council of the City of
28 Vernon finds and determines that the recitals contained
1 herein.above .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 $0.01754 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7 shall be June 1, 1989, and shall continue until rescinded or
8 amended by resolution of the City Council of the City of Vernon.
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SECTION 4: That effective June 1, 1989, this
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10 resolution rescinds existing ECABF Resolution NO. 5588.
SECTION 5: That the City Clerk of the City of
12 Vernon shall certify to the passage of this resolution and
13 thereupon and thereafter the same shall be in full force
14 and effect.
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APPROVED AND ADOPTED this 16th day of May, 1989.
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EONIS C. MA BURG, Mayor
ATTEST:
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BRUCE V. MALKENHORST, City Clerk
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
SSe
I, BRUCE V. MALKENHORST, City Clerk of the City
of Vernon, do hereby certify that the foregoing Resolution,
being Resolution No. 5622 was duly adopted by the City Council
of the City of Vernon, and was approved by the Mayor of said
City at a regular meeting of the City Council held on Tuesday,
May 16, 1989.
/i
.vrk~
,
BRUCE V. MALKENHORST, City Clerk
(SEAL)