Resolution No. 5743
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RESOLUTION NO. 5743
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. 911 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 resolutions
8 of the City Council of the City of Vernon, when, in the City
9 Council's opinion, such changes are necessary for the sound
10 financial position of the Light and Power Operating Funds; and
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WHEREAS, the ECABF adopted in previous Resolution
12 No. 5704 has produced a surplus in the energy cost adjustment
13 account; and
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WHEREAS, Resolution No. 5342, adopted by the City
15 Council of the City of Vernon on December 16, 1986, provides
16 a methodology to compute the ECABF that reduces the degree of
17 rate fluctuations, includes data from Vernon's resources, and
18 provides a stable ECABF rate level; and
19 WHEREAS, the City Council of the City of Vernon hereby
20 intends to approve a new ECABF for future time periods in
21 accordance with Resolution No. 5342 in order to allow the
22 customers of the City of Vernon to project their future
23 financial needs in a reasonable manner.
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
25 OF THE CITY OF VERNON AS FOLLOWS:
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SECTION 1 :
That the City Council of the City of
27 Vernon finds and determines that the reci tals contained
28 hereinabove are true and correct.
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SECTION 2 :
That the City Council of the City of
2 Vernon does hereby adopt an ECABF of negative $0.02063 per
3 kilowatt hour on electrical energy sold to its electrical
4 consumers.
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SECTION 3 :
That the effective date of said ECABF
6 shall be May 1, 1990, and shall continue until rescinded or
7 amended by resolution of the City Council of the City of Vernon.
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SECTION 4 :
That effective May 1, 1990, this
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9 resolution rescinds existing ECABF Resolution No. 5704.
SECTION 5:
That the City Clerk of the City of Vernon
11 shall certify to the passage of this resolution and thereupon
12 and thereafter the same shall be in full force and effect.
13 APPROVED AND ADOPTED this 24th day of April, 1990.
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ATTEST:
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LE~~IS C. MALBU G, Mayor
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BRUCE V. MALKENHORST, City Clerk
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STATE OF CALIFORNIA
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. 5743 was duly adopted by the City Council of
the City of Vernon, and was approved by the Mayor of said City
at an adjourned regular meeting of the City Council held on
Tuesday, April 24, 1990.
SSe
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BRUCE V. MALKENHORST, City Clerk
(SEAL)