HomeMy WebLinkAboutAgenda Report - February 4, 1981 (36)K
ORDINANCE NO.
r" DRAFT NO, 2
12/23/80
DR11asln
NCPA 627,758-2
CITY OF e
AUTHORIZING THE NORTHERN CALIFORNIA POWER AGENCY
TO ISSUE REVENUE NOTES
WHEREAS, by Ordinance No. of the City
of , the Northern, California Power Agency
("NCPA") organized under that certain Joint Powers Agreement
to which this city is a party, dated July 19, 1968, as amended,
was authorized to issue revenue bonds, as provided in said
Joint Powers Agreement, purstiant to the provisions of Article 2
(commencing with Section 6540), Chapter 5, Division 7, Title l
of the Government Code of the State of California in an amount
not to exceed Twenty --Eight Million Dollars ($28,000,000) ("Bonds") ,
for the project described in said ordinance;
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
that:
Section to Than the previous authorization of
Bonds under Section 6547 of the Government Code shall hereby
include in addition the authorization to issue notes or other
evidences of indebtedness to the extent permitted or authorized
by Sections 6547 and 6547,1 of tho Government Code
("Notes"). That the provisions of said ordinance with
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respect to the Bonds shall apply to the Notes authorized here-
under.
Section 20 The project or studies or other
preliminary cost to be funded (including reimbursement) by the
Notes hereby authorized is the loaning of funds to Northern
California Municipal Power Corporation No. Two, Non -Profit
Corporation (the "Corporation"), for the purpose of acting on
behalf of NCPA in the-cqu.isition, construction, maintenance
and operation of a power plant (using geothermal steam produced
from certain leasehold interests of Shell Oil Company in Sonoma
County, California and provided to 14CPA pursuant to a geothermal
steam sales agreeement dated as of "lune 27, 1977, as amended),
and other facilities and appurtenances necessary or convenient
to such plant, including transmission lines.
Section 3m The maximum amount of Notes to be
issued for the purposes described in Section 2 shall not exceed
Twenty -Eight Million Dollars ($28,000,000), the same as the amount
of the Bonds.
Section 4. The anticipated sources of revenue or
other funds to pay the principal and interest of the Notes are
loan ropayments to be made by the Corporation to NCPA under an
appropriate loan agreement and to be (JL,'Fived from the sale of power
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produced by the plant referred to in Section 2 hereof and any
payments made by certain NCPA members pursuant to Section 5(b)
of the 'Member Agreement For The Construction, Operation and
Financing of NCPA Geothermal Generating Emit Project #2"
as may from time to -tame be amended; provided, further, such
sources shall, also include the proceeds of revenue bonds
including the Bonds, or renewal of the Notes; in addition
such Notes may be secured by za guarantor, letter of credit or
other obligations or funds of a bank or private financial.
institution.
Section 5. The Cities of Palo Alto, Redding and
Biggs are not participants in the acquisition, construction,
maintenance, operation or financing of the plant referred to in
the recitals hereof and nothing in this ordinance shall mean or
be construed to mean that the City of Palo Alto, the City of
Redding or the City of Biggs has assumed or agreed to assume
any financial or other responsibility or liability associated
with the acquisition, construction, maintenance, operation or
financing of such plant.
Section 6. This ordinance is subject to the
provisions for referendum prescribed by Section 3751..7 of the
Elections Code of the State of California. Subject to the
3.
foregoing, this ordinance shall take effect and be in force
sixty (60) days from the date of adoption.
Section 7. The City Clerk of the City is
hereby directed to cause this ordinance to be published within
fifteen (15) days after its adoption in a newspaper of general
circulation within the City of and shall
also do all other things required to cause notice of the adop-
tion of this ordinance to be published in the manner required
by Section 6040.1 of the Government Code of the Mate of Cali-
fornia.
Attest:
City Clerk
Approved as to form°
(��Attornoy
Presi.d'ng Officer of the Council
91
ORDINANCE NO. 1221
CITY OF LODI, CALIFORNIA
NOTICE IS HEREBY GIVEN as required by Section 6040.1.
Government Cone of the State of California, that Ordinance No.
1221 of the City of Lodi, California, was adopted by the City
Council. on February 4, 1901, and authorized the issuance of revenue
notes, pursuant to Article 2, Chapter 5, Division 7, Title 1 of
the Government Code of the State of California, by the Northern
California Power Agency, organized under that. certain ,joint
Powers Agreement, to which the City of Lodi is a party, dated `
July 19, 1968, as amended in an amount not to exceed $20,000,000,
said notes to be secured and repaid on the same basis as a pre-
viously authorized bond issue in the same amount.
Ordinance No. 1221 is subject to the provisions for
referendum prescribed by Section 3751°7 c -f the Elections Code
of the State of California and shall not take effect for 60
days from the date of adoption.
Since the number of votes cast for all candidates for
Governor at the Last gubernatorial election within the boundaries
of the City of Lodi, California was less than 500,000 the above
named ordinance is subject to referendum upon presentation of
a petition bearing signatures of at least 10 percent of the entire
P'�rote cast within the boundaries of the City of Lodi, California,
for all candidates for Governor at the last gubernatorial election®
For the purpose of submitting the question to the voters, pursuant
to a referendum petition satisfying the requirements of the
preceding paragraph® the ballot hording shall approximate the
following:
"Shall of the City of Lodi, California, as a member of
the Northern California Power Agency, a joint powers entity
of which the City is a member, authorize the issuance of revenue
notes by the joint powers entity in the maximum amount of $28®000,000
pursuant to ordinance No. 1221., dated February 4, 1981, such notes
to be used for the following purposes and to be redeemed in the
following manner:
To provide a portion of the preliminary cost (including
reimbursement) of construction of an electric generating plant
powered by geothermal steam and the related transmission lines
and appurtenances necessary or convenient thereto in the County
of Sonoma by loaning funds to North California Municipal power
Corporation No. Two (the Corporation") for the purpose of acting
on behalf of Northern California Power Agency in acquiring, con-
structing and maintaining an electric power plant using geother-
mal steam produced from certain leasehold interests of Shell
Oil. Company in Sonoma County, California. The anticipated sources
of revenue for the payment of the notes are loan repayments to
be made by the Corporation to Northern California Power Agency
under an appropriate loan agreement and to be derived from the
�,
sale of power produced by the plant referred to above and any
payments Made by certain Northern California Power ,Agency members
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pursuant to Section 5(b) of the "Member Agreement For The
Construction, Operation and Financing of NCPA Geothermal Generating
Unit Protect #20 as it may from time to time be amended® providedg
further® such sources shall also include the proceeds of revenue
bonds or renewal of the notes; in addition such notes may be secured
by a guaranty, letter of credit or other obligations or funds
of a bank or private financial institution.
The notes authorized by Ordinance No. 1221 are revenue
notes of the Northern California Power Agency. The purpose of
the issuance and sale of said notes is to provide a portion of
the cost of construction of a- electric generating plant powered
by geothermal steam and the related transmission lines and appur-
tenances necessary or convenient thereto in the County of Sonoma
by loaning funds to Northern California Municipal Corporation
No. Two (the "Corporation"). The maxim;m amount of the notes
to be issued and sold is $28,000,000 and the duration of the
proposed indebtedness shall not exceed a maximum period of 30
years from the date of issuance of the notes or any series thereof®
The anticipated sources of revenue for the payment of the notes
are loan repayments to be made by the Corporation to Northern
California Power Agency under an appropriate loan agreement and
to be derived from the sale of power produced by the plant re-
ferred to above and any payments made by certain Northern Cali-
fornia power Agency members pursuant to Section 5(b) of tate
"Member Agreement For the Construction, Operation and Financing
of NCPA Geothermal. Generating Unit Project #20 as it may from
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time to time be amended, provided, further, such sources shall
also include the proceeds of revenue bonds or renewal of the
notes; in addition such notes may be secured by a guaranty, letter
of credit or other obligations or funds of a bank or private
financial .institution. The anticipated rate of interest on said
notes will not exceed 1.0 percent per annum.
The cities of Palo Alto and Redding are not partici-
pants in the acquisition, construction, maintenance, operation
or financing of the plant referred to above and the cities of
Palo Alto and Redding have not assumed or agreed to assume any .
financial or other responsibility or liability associated with
the acquisition$ construction, maintenance, operation or financ-
ing of such plant®
Dated this 4th day of February, 19810
q
1ce*, Reim e
city clerk
CITY OF LODI r CALIPORNI k
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