Resolution No. 6283
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RESOLUTION NO. 6283
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
VERNON APPROVING AND AUTHORIZING THE EXECUTION
OF AN AGREEMENT FOR THE ASSIGNMENT OF THE GAS
PURCHASE AND SALES AGREEMENT DATED AUGUST 6,
1992 BETWEEN THE CITY OF VERNON AND SIGNAL FUELS
TRADING COMPANY
WHEREAS, the Light & Power Department of the City of
Vernon requires a natural gas fuel supply for its gas turbine
generating facilities which provides peaking power during peak
periods; and
WHEREAS, the City of Vernon executed a Gas Purchase and
Sales Agreement dated August 6, 1992 for service with Signal Fuels
Trading Company ("Signal") for supplies of natural gas to said
turbines; and
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WHEREAS, Signal has experienced economic difficulties and
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has assigned the Gas Purchase and Sales Agreement with the City of
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Vernon to Sunrise Energy Company ("Sunrise") in accordance with
article 15 of said Agreement; and
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WHEREAS, Sunrise has agreed to accept the assignment from
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Signal of the Gas Purchase and Sales Agreement with the City of
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Vernon; and
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WHEREAS, Sunrise has submitted an assignment agreement to
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be effective as of May 1, 1993; and
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WHEREAS, the City of Vernon finds that it is beneficial
to the City that said assignment agreement be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF VERNON AS FOLLOWS:
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SECTION 1: That the City Council of the City of Vernon
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does hereby find and determine that the recitals contained
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hereinabove are true and correct.
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SECTION 2: The City Council of the City of Vernon hereby
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approves the Assignment of Gas Purchase and Sales Agreement to be
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effective May 1, 1993, a copy of which has been presented to the
City Council concurrently with this resolution, and the City
Council hereby orders said Agreement to be received and filed by
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the City Clerk.
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SECTION 3: The City Council of the city of Vernon hereby
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authorizes the Mayor and City Clerk to execute said Agreement for,
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and on behalf of, the City of Vernon.
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SECTION 4: The City Clerk of the city of Vernon shall
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certify to the passage of this resolution and thereupon and
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thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 30th day of June, 1993.
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MALKENHORST, City Clerk
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ATTE~. T'
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BRUCE V.
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STATE OF CALIFORNIA )
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COUNTY OF LOS ANGELES )
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I, BRUCE V. MALKENHORST, city Clerk of the City of
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Vernon, do hereby certify that the foregoing Resolution, being
Resolution No. 6283, was duly adopted by the City Council of the
City of Vernon at an adjourned regular meeting of the City Council
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duly held on Wednesday, June 30, 1993, and thereafter was duly
signed by the Mayor of the City of Vernon.
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BRUCE V. MALKENHORST,
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(SEAL)
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