Resolution No. 5684
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RESOLUTION NO. 5684
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
7 in such billing factor to be made from time to time by
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resolutions of the City Council of the City of Vernon, when,
in the City Council's opinion, such changes are necessary
10 for the sound financial position of the Light and Power
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Operating Funds1 and
WHEREAS, the ECABF adopted in previous Resolution
5E)49 has produced a surplus in the energy cost
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adjustment account; and
WHEREAS, Resolution No. 5342, adopted by the City
Council 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
21 hereby intends to approve a new ECABF for future time
22 periods in accordance with Resolution No. 5342 in order
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to allow the customers of the City of Vernon to proj ect
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
28 of Vernon finds and determines that the recitals contained
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hereinabove are true and correct.
SECTION 2: That the City Council of the City of
Vernon does hereby adopt an ECABF of negative $0.01369 per
kilowatt hour on electrical energy sold to its electrical
consumers.
SECTION 3: That the effective date of said ECABF
shall be November 1, 1989, and shall continue until rescinded
or amended by resolution of the City Council of the City of
Vernon.
SECTION 4: That effective November 1, 1989, this
resolution rescinds existing ECABF Resolution No. 5649.
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 17th of October, 1989.
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ATTEST:
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BRUCE V. MALKENHORST, CITY CLERK
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STATE OF CALIFORNIA )
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COUNTY OF LOS ANGELES)
I, BRUCE V. MALKENHORST, Ci ty Clerk of the City
of Vernon, do hereby certify that the foregoing Resolution,
being Resolution No. 5684, was duly adopted by the City
Council of the City of Vernon at a regular meeting of the
City Council duly held on Tuesday, October 17, 1989 and
thereafter duly signed by the Mayor of the City of Vernon.
4/UP1''''~ /~~-p
BRUCE V. MALKENHORST, City Clerk
(SEAL)