Resolution No. 94101 RESOLUTION NO. 9410
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
3 VERNON AUTHORIZING THE CITY ADMINISTRATOR TO
NEGOTIATE AND ENTER INTO EXCLUSIVE AGREEMENTS WITH
4 ANY THIRD PARTY RESPECTING THE POTENTIAL PURCHASE
OF ANY CITY ASSET
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6 WHEREAS, the City of Vernon (the "City") is a municipal
7 corporation and a chartered city of the State of California organized
8 and existing under its Charter and the Constitution of the State of
9 California; and
10 WHEREAS, the City is in the process of evaluating potential
11 transactions regarding the City's 134 MW Malburg Generation Station
12 and associated real and personal assets owned by the City, including
13 Power Purchase Agreements, transmission assets and rights and
14 generation assets (the "Project"); and
15 WHEREAS, the City needs to negotiate and enter into
16 exclusive agreements with third parties respecting the potential
17 purchase of any City asset respecting the Project; and
18 WHEREAS, the City desires to authorize the City
1g Administrator to negotiate and enter into such exclusive agreements
20 with third parties.
21 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
22 CITY OF VERNON AS FOLLOWS:
23 SECTION 1: The City Council of the City of Vernon hereby
24 finds and determines that the recitals contained hereinabove are true
25 and correct.
26 SECTION 2: The City Council of the City of Vernon hereby
27 authorizes the City Administrator, or his designee, to take all steps
28 necessary and appropriate to negotiate and enter into exclusive City
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agreements with third parties respecting the potential purchase of any
asset relating to the Project.
SECTION 3: 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 4th day of September, 2007.
AIEST :
MANUELA GIRO ity Clerk
Name: Leonis C. Malburg
Title: Mayor /
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STATE OF CALIFORNIA )
ss
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COUNTY OF LOS ANGELES )
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I, MANUELA GIRON, City Clerk
of the City of Vernon,
do hereby
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certify that the foregoing Resolution,
being Resolution No.
9410, was
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duly adopted by the City Council of the City of Vernon at a
regular
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meeting of the City Council duly held
on Tuesday, September
4, 2007,
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and thereafter was duly signed by the
Mayor or Mayor Pro-Tem of the
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City of Vernon.
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MANUELA IRON, City Clerk
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(SEAL)
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SUPPORTING
DOCUMENTS
CITY CLERK'S OFFICE
INTEROFFICE MEMORANDUM
DATE: September 12, 2007
TO: Donal O'Callaghan, Director of Light & Power
FROM: Nelly Giron, City Clerk
RE: Resolution No. 9410 - A Resolution of the City Council
of the City of Vernon Authorizing the City Administrator
to Negotiate and Enter into Exclusive Agreements with
Any Third Party Respecting the Potential Purchase of Any
City Asset
Transmitted herewith is a signed copy of Resolution No. 9410,
referenced above, which was approved by City Council on September
4, 2007.
NG:dr
c: Sharon Duckworth
Resolution No. 9410