Resolution No. 5844
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RESOLUTION NO. 5844
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 Cost
Adjustment Billing Factor ("ECABF") and for changes in such
billing 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
position of the Light and Power Operating Funds; and
WHEREAS, the ECABF adopted in previous Resolution No.
5743 has produced a surplus in the energy cost 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 hereby
intends to approve a new ECABF for future time periods in
accordance with Resolution No. 5342 in order to allow the
customers of the City of Vernon to project 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 of Vernon
finds and determines that the recitals contained hereinabove are
true and correct.
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SECTION 2: That the City Council of the City of Vernon
does hereby adopt an ECABF of negative $ 0.01415 per kilowatt
hour on electrical energy sold to its electrical consumers.
SECTION 3: That the effective date of said ECABF shall
be November 1, 1990, and shall continue until rescinded or
amended by resolution of the City Council of the City of Vernon.
SECTION 4 :
That effective November 1, 1990, this
resolution rescinds existing ECABF Resolution No. 5785.
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 25th day of October, 1990.
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THOMAS A. YB , Mayor Pro-Tem
AT~~
BRUCE V. MALKENHORST, City Clerk
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t
STATE OF CALIFORNIA )
) ss.
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. 5844 was duly adopted by the City Council of the
City of Vernon, and was approved by the Mayor of said City at an
adjourned meeting of the City Council held on Tuesday, October
25, 1990.
(SEAL)
BRUCE V. MALKENHORST, City Clerk