Resolution No. 93311
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RESOLUTION NO. 9331
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
VERNON TERMINATING AMENDMENT NO. ONE TO EMISSION
CREDIT BROKERAGE AND CUSTODIAN SERVICES AGREEMENT
BY AND BETWEEN THE CITY OF VERNON AND EVOLUTION
MARKETS LLC, RESCINDING RESOLUTION NO. 8918 AND
AUTHORIZING THE DIRECTOR OF LIGHT & POWER TO AMEND
THE AGREEMENT
WHEREAS, on April 13, 2005, the City Council of the City of
Vernon adopted Resolution No. 8714 approving and authorizing the
execution of an Emission Credit Brokerage and Custodian Services
Agreement (the "Agreement") with Evolution Markets LLC ("Evolution")
for brokerage and/or custodial services with respect to Emission
Credits; and
WHEREAS, on December 7, 2005, the City Council of the City of
Vernon adopted Resolution No. 8918 approving and authorizing the
execution of an Amendment No. One to the Agreement ("Amendment No.
One") with Evolution to clarify the terms under which Evolution would
provide services to the City; and
WHEREAS, Amendment No. One has not been signed by either the
City or Evolution; and
WHEREAS, the City desires to terminate Amendment No. One and
rescind Resolution No. 8918; and
WHEREAS, the Director of Light & Power has requested
authority to amend the Agreement to modify the personnel authorized to
represent the City's interests and to receive notice under the
Agreement and to update the Agreement as necessary.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF VERNON AS FOLLOWS:
1 SECTION l: The City Council of the City of Vernon hereby
2 finds and determines that the recitals contained hereinabove are true
3 and correct.
4 SECTION 2: The City Council of the City of Vernon hereby
5 terminates Amendment No. One to the Agreement with Evolution approved
6 by Resolution No. 8918 on December 7, 2005 and hereby rescinds
7 Resolution No. 8918.
8 SECTION 3: The City Council of the City of Vernon hereby
9 authorizes the Director of Light & Power to change provisions in
10 paragraphs 1 and 12 of the Agreement dealing with the Authorized Agents'
11 of the City and the parties authorized to receive notice on behalf of
12 the City under the Agreement and to make any further modifications as
13 deemed necessary to facilitate the brokerage and/or custodial services.
14 SECTION 4: The City Council of the City of Vernon hereby
15 authorizes the Director of Light & Power to execute an amendment to the
16 Agreement providing for the foregoing modifications, subject to the
17 review and approval as to form by the City Attorney.
18 SECTION 5: The City Clerk of the City of Vernon shall
19 certify to the passage of this resolution, and thereupon and thereafter
20 the same shall be in full force and effect.
21 APPROVED AND ADOPTED this 29th day of May, 2007.
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Name: LEON I S C . MALBURG
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26 Title: Mayor
27 ATTES
28 — Llu4x� /<��
MANULLA GIRON, City C erk
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1 STATE OF CALIFORNIA }
2 )ss
COUNTY OF LOS ANGELES )
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4 I, MANUELA GIRON, City Clerk of the City of Vernon, do hereby
5 certify that the foregoing Resolution, being Resolution No. 9331, was
6 duly adopted by the City Council of the City of Vernon at a special
7 meeting of the City Council duly held on Tuesday, May 29, 2007, and
8 thereafter was duly signed by the Mayor or Mayor Pro-Tem of the City of
9 Vernon.
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NUELA GIRO Ci Ayt'le-'rk
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13 (SEAL)
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SUPPORTING
DOCUMENTS
CITY CLERK'S OFFICE
INTEROFFICE MEMORANDUM
DATE: June 6, 2007
TO: Donal O'Callaghan, Director of Light & Power
FROM: Nelly Giron, City Clerk
RE: Resolution No. 9331 - A Resolution of the City Council
of the City of Vernon Terminating Amendment No. One to
Emission Credit Brokerage and Custodian Services
Agreement By and Between the City of Vernon and
Evolution Markets LLC, Rescinding Resolution No. 8918
and Authorizing the Director of Light & Power to Amend
the Agreement
Transmitted herewith is a signed copy of Resolution No. 9331,
referenced above, which was approved by City Council on May 29,
2007.
NG:dr
c: Sharon Duckworth
Resolution No. 9331