Resolution No. 6742
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RESOLUTION 6742
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 CUSTOMERS
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.
6695 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
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Vernon finds and determines that the recitals contained
hereinabove are true and correct.
SECTION . 2:
That the City Council of the City of
Vernon does hereby adopt an ECABF of negative $0.03278 per
kilowatt hour on electrical energy sold to its electrical
consumers.
SECTION 3:
That the effective date of said ECABF
shall be February 1, 1996 and shall continue until rescinded or
amended by resolution of the City Council of the City of Vernon.
SECTION 4 :
That effective February 1, 1996 this
resolution rescinds existing ECABF Resolution No. 6695.
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 23rd day of January 1996.
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L~NIS c. ~G' MaY;;;
ATTEST:
A-V;
BRUCE V. MALKENHORST, City Clerk
I, BRUCE V. MALKENHORST, City Clerk of the City of
4 Vernon, do hereby certify that the foregoing Resolution, being
5 Resolution No. 6742 was duly adopted by the City Council of the
6 City of Vernon, at an adjourned regular meeting of the City
7 Council duly held on Tuesday, January 23, 1996 and thereafter
8 signed by the Mayor of the City of Vernon.
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1 STATE OF CALIFORNIA )
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2 COUNTY OF LOS ANGELES)
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BRUCE V. MALKENHORST, City Clerk