HomeMy WebLinkAboutAgenda Report - October 27, 1982 (33)ORDINANCES Ordinance No. 1273 entitled - "An Ordinance of the City Council
of the City of Lodi Authorizing the Issuance of Public Power
NCPA GEOTHERMAL Revenue Bonds by Northern California Power Agency (Geothermal
GENERATING Generating Project Number 3)" having been introduced at a
PROJECT NO. 3 regular meeting of the Council held October 6, 1982 was brought
up for passage on motion of Councilman Pinkerton, Murphy. second.
ORD. NOS. Second reading was omitted after reading by title, and the
1273,1274, Ordinance was then adopted and ordered to print by the following
1275 ADOPTED vote:
Ayes: Council Members - Murphy, Olson, Pinkerton, Snider, and
Reid (Mayor)
Noes: Council Members - None
Absent: Council Members - None
Ordinance No. 1274 entitled - "An'Ordinance of the City Council
of the City of Lodi Authorizing the Issuance of Notes by
Northern California Power Agency (Geothermal Generating Project
Number 3)" having been introduced at a regular meeting of the
Council held October 6, 1982 was brought up for passage on
motion of Mayor Pro Tempore Murphy, Snider second. Second
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reading was omitted after reading by title, and the Ordinance
was then adopted and ordered to print by the following vote:
Ayes: Council Members - Olson, Murphy, Pinkerton, Snider, and
Reid (Mayor)
Noes: Council Members - None
Absent: Council Members - None
Ordinance No. 1275 entitled - "An Ordinance of the City Council
of the City of Lodi authorizing the issuance of Public Power
Revenue Refunding Bonds by the Northern California Power Agency"
having been introduced at a regular meeting of the Cou=ncil held
October 6, 1982 was brought up for passage on motion of Council
Member Olson, Murphy second. Second readingwas omitted after
reading by title, and the Ordinance was then adopted and
ordered to print by the following vote
Ayes: Council Members - Olson, Murphy, Pinkerton, Snider, and
Reid (Mayor)
Noes: Council Members - None
MembersAbs,�nt: Council
LODI NEWS SENTINEL CITY OF L O D I
221 W. Pine Street
ADVERTISING INSTRUCTIONS
Lodi, California
Subject nRDIUANCF01:1HpCT1yC011NCy1 OETHECLUMIOD1 A'AWRIZING:MF 16SUANCT-OF
PUBLIC POWER REVENUE BON I DS BY'NORTHERN CALIFORNIA POWER AGENCY (GEOTHERMAL
CrIdCOATTU& om-irt-v mm"rn q% nonTIFAMer It^ •.'I %
Publish Dates. 11.118 to 11137 (S--cauawtive days)
Tear Sheets Wanted r"
Affidavit and Bill To: ALICE M. REIMCHE, CITY CLERK, CITY HALL
DATE: —Ordered By: ALICE M. REIMCHE
CITY CLERK
k
ORDn ice= N0. 1273
CIRDDMCE OF H COUNCIL OF THE CITY OF MAUMR-
IZING
THE LSSUANCE OF ' • M REVENUE BONDS
• •eM•M a POWER AGENCY (GSDTHEEMLGENERATIM
PROCECT NUMM
iHEMS, pursuant to the provisions of Chapter 5, Division 7, Title 1 of
the Government Code of the State of California, as amended (the "Joint Powers
Act"), the City of Lodi and certain other public agencies created pursuant to the
laws of the State of California (collectively, the "Members"), have entered into a
Joint Powers Agreement, as amended (the "Agreement"), creating the Northern •
California Power Agency (the "Agency") , a public entity separate and apart from
the Members; and
WHMS: in accordance with the Agreement and the Joint Powers Act, the
Agency has entered or will enter into agreements to acquire and construct (or to
cause to be acquired and constructed) a project for the generation and
transmission of electric energy consisting of two 55 megawatt geothermal
generating. units and related facilities, including transmission, proposed to be
constructed in Sonoma and Lake canities, State of California., and capital
xprovements thereto that may be constructed from time to time, and interests in
certain other property land rights relating thereto, including, without
Limitation, such interest in the Agency's Geothermal Generating Project Number 2,
as the Agency may determine (the "Project"); and
WHEREAS, the Agency proposes to issue, in accordance with the Agreement
and the Joint Powers Act, from time to time, in one or more installments, its
revenue bonds and evidences of indebtedness (including refunding bonds) ("Pubic.
Power novenae Bonds") to be outstanding at any one tine in accordance with their
terms in the estimated maximum aggregate principal amount of $300, 000, 0 0 0 ; for
the purpose of providing funds for the acquisition, construction and financing of
the Project, and
WHEMS, the Agency also proposes to issue its notes and other evidences
of indebtedness (including renewal notes) ("Notes") for the purpose of financing
studies, the acquisition of options, permits, and other preliminary costs to be
incurred prior to the undertaking of the constriction or acquisition of the
Project and for the purpose of providing tecporary financing of costs of
acquisition and construction of the Project; and
hHEREhS, notwithstanding the aforesaid estimated maximum aggregate principal
amount of Public Power Revenue Bonds proposed to be issued by the Agency for the
Project and to be outstanding at any one time in accordance with their- terms,
additional Public Power Revenue Bonds may be required to coup ete the financing of
the Project; and
W MMNS, the Agency has entered or will enter into one or more agreements
(the "Member Agreements") with certain entities (including two or more of the
Members), pursuant to which the entities entering into such Member Agreements with
the Agency (the "Participants") will, in the aggregate, purchase options and/or
rights to purchase and/or receive 100% of the capacity and energy of the Project;
and
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46
WHEREAS, the Public. Power Revenue Bonds are to be payable from funds held in
trust for the benefit of the holders of such Bonds and from revenues of the Agency
from the Project, including payments to be made by the participants under the
Member Agreements; and
WFIERFAS, the Notes are to be payable from proceeds of renewal Notes and
the proceeds of the Public Power Revenue Bonds and, to the extent not so paid, may
be payable from revemes of the Agency from the Project, including payments to be
made by the Participants under the Member Agreements; and
SAS, in accordance with the Joint Powers Act, the exercise by the Agcy
of its power to issue the Public Power Revents Bonds is subject to the
authorization of such issuance by the Members pursuant to Ordinance; and
WHEIMS, neither the payment of principal of the Public Power Revenue Bonds
nor any part thereof nor inber+est ther on shall constitute adebt, liability or
obligatio. of the City of Lodi; nor does this Ordinance oommit the City of Lodi to
take or pay for any capacity or energy of the Project.
NOW, MMWM, the City Council of the City of Lodi does ordain as follows:
1. Tose issuance and sale by the Agency, frac time to time, in
one or mn^e installments, of its Public Power Revenue Bands
outstanding at any one time in accordance with their terms in
a mwdm mn aggregate principal amount of $3000,000,000 is hereby
authorized. Notxithstandinq such maximin aggregate principal
mount, the Agency is hereby authorized to issue additional
principal amounts of its Public Power Favenue Bonds if and to
the extent required to complete the financing of the Project.
The proceeds from the sale of the Public Power Revenue Bonds
hereby authorized are to be used for the aognisition,
r n we xuctim and financing of the Project, including interest
on such Bonds and deposits to reserves, and to pay the
principal, pLvmmium, if any, and interest on the Notes of the
Agency when due. The Public Power Revenue Bonds hereby
authorized, and parnsaiva and interest thereon, are to be
payable fr m, and secured by, funds held in trust for the
benefit of the holders of Public Power Revenue Bonds and from
rerm men of the Agency from the Project, including payments
received by the Agency frau the Participants under the Member
Agree men .
2. Pursuant to Section 6547 of the Joint Powers Act, this
QmUnanoe is subject to the provisions for referendsum
prescribed by Section 3751.7 of the Elections Code of the
State of California.
3. he City Clerk shall certify to the enact=ment of this
Ordinance and shall cause notice of the same to be published
in accordance with Section 6040.1 of the Gaverranent Code of
the State of California.
4. Sixty (60) days frons and after its enactment, this
ordinance shall take effect and be in full force, in the
manner provided by law.
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THE PONWING OIRDn is approved, enacted and adopted by the City Council
of the City of Lodi, this 27th day of October, 1982.
M. Raimche
City Clerk
State of California
County of San Joaquin, ss.
I, Alice M. Reimche, City Clerk of the City of Lodi,
do hereby certify that ordinance No.1273 was introduced
at a regular meeting of the City Council of the City of
Lodi held October 6, 1982 and was thereafter passed,
adopted and ordered to print at an adjourned regular
Greeting of said Council held October 27, 1982 by the
following vote:
Ryes: Council Members - Olson, Reid, Murphy,
Pinkerton, and Reid Mayor)
Noes: Council Menbers -- Now
Absent: Council Merbers - None
Abstain: Council Members - Now
I further certify that Oalinance No. 1273 was approved and
signed by the Mayor on the date of its passage and the same
has been published pursuant to law.
Approved as to form
Ronald M. Stein
City Attorney
ALICE M. REINCHE
City Clerk
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NOTICE OF ORDINANCE SUBJECT TO REFERENDUM
CITY OF LODI
ORDINANCE NO. 1273
ADOPTED BY THE CITY COUNCIL OF THE CITY OF LODI
ON OCTOBER 27, 1982
Notice is hereby given that at an adjourned regular meeting of the
City Council of the City of Lodi (the "City Council"), held on October 27, 1982,
Ordinance No. 1273 (the "Ordinance") was adopted. The title and a summary of the
Ordinance are set forth below. The Ordinance is subject to referendum, as
discussed below.
Title
ORDINANCE OF THE CITY' COUNCIL OF THE CITY OF LODI AUTHORIZING THE
ISSUANCE OF PUBLIC POWER REVENUE BONDS BY NORTHERN CALIFORNIA POWER AGENCY
(GEOTHERMAL GENERATING UNITS 03 AND f4 PROJECT).
k Summary
Pursuant to the Ordinance, the City Council has authorized the issuance
and sale by Northern California Power Agency (the "Agency") of its revenue bonds
and evidences of indebtedness ("Publ-ic Power.Revenue Bonds"), to mature on or
before December 31, 2022, to be issued, from time to time, in one or more install-
ments, in an estimate aggregate principal amount outstanding at any one time in
accordance with their terms of $300,000,000 and to bear interest at a probable
overall rate of 13% per annum. The actual interest rates on each installment of
such Public Power Revenue Bonds or the method of determining such rates will be
determined by the Commission of the Agency in accordance with law at the time of
issuance of such installment. Notwithstanding such maximum aggregate principal
amount of Public Power Revenue Bonds, the Agency is authorized, pursuant to the
Ordinance, to issue additional principal amounts of its Public Power Revenue Bonds
if and to the extent required to complete the financing of the Project discussed
below.
The Agency was created pursuant to a Joint Powers Agreement, as amended
(the "Agreement"), heretofore entered into between the City of Lodi and certain
other public agencies created pursuant to the laws of the State of California
(collectively, the "Members") pursuant to the provisions of Chapter 5, Division 7,
Title 1 of the Government Code of the State of California, as amended (the "Joint
Powers Act"). The Agency is a public entity separate and apart from the Members.
The Agency- in accordance with the Joint Powers Act and the Agreement, has
entered or will enter into agreements to acquire and construct (or cause to be
acquired and constructed) a project for the generation and transmission of
electric energy consisting of two 55 megawatt geothermal generating units and
related facilities, including transmission, proposed to be constructed in Sonoma
and Lake Counties, State of California, and capital improvements thereto that may
be constructed from time to time, and interests in certain other property and rights
relating thereto, including, without limitation, such interest in the Agency's
Geothermal Generating Project Number 2, as the Agency may determine (the "Project").
The Agency has entered or will enter into one or more agreements (the "Member
Agreements") with certain entities (including two or more of the Members), pursuant
to which the entities entering int^ such Member Agreements with the Agency (the
"Participants") will, in the aggregate, purchase options and/or rights to purchase
and/or receive 100% of the capacity and energy of the Project. The City Council
heretofore has authorized, by ordinance, the issuance and sale by the Agency of its
notes and evidences of indebtedness (including renewal notes) ("Notes") for the
-4-
of financing studies, the acquisition of options, permits, and other preliminary
costs to be incurred prior to the undertaking of the construction or acquisition
of the Project and for the purpose of providing temporary financing of costs of
acquisition and construction of the Project. The Notes are to be payable from the
proceeds of renewal Notes and the proceeds of the Public Power Revenue Bonds
authorized by the Ordinance and, to the extent not so paid, may be payable from
revenues of the Agency from the Project, including payments to be made by the E
Participants under the Member Agreements.
Neither the payment of principal of the Public Power Revenue Bonds
nor any part thereof nor interest thereon will constitute a debt, liability or
obligation of the City of Lodi; nor does the Ordinance commit the City of Lodi
to take or pay for any capacity or energy of the Project.
THE AGENCY PROPOSES TO ISSUE, IN ACCORDANCE WITH THE AGREEMENT AND THE
JOINT POWERS ACT, ITS PUBLIC POKIER REVENUE BONDS TO PROVIDE FUNDS FOR THE
ACQUISITION, CONSTRUCTION AND FINANCING OF THE PROJECT. THE PUBLIC POWER
REVENUE BONDS ARE TO BE PAYABLE FROM FUNDS HELD IN TRUST FOR THE BENEFIT OF THE
HOLDERS OF SUCH BONDS AND FROM REVENUES OF THE AGENCY FROM THE PROJECT, INCLUDING
PAYMENTS TO BE MADE BY THE PARTICIPANTS UNDER THE MEMBER AGREEMENTS.
THE ORDINANCE AUTHORIZING THE ISSUANCE OF THE PUBLIC POWER REVENUE
BONDS IS SUBJECT TO REFERENDUM. UPON PRESENTATION (WITHIN THE TIME PERIOD SPECIFIED
BY LAW) OF A PETITION (BEARING SIGNATURES, IN AT LEAST THE NUMBER REQUIRED BY THE
LAW) PROTESTING AGAINST THE ADOPTION OF THE ORDINANCE, THE CITY COUNCIL I'S REQUIRED
TO RECONSIDER THE ORDINANCE. THEREUPON, IF THE CITY COUNCIL DOES NOT ENTIRELY
REPEAL THE ORDINANCE, THE ORDINANCE SHALL BE SUBMITTED (UNDER BALLOT WORDING
PRESCRIBED BY LAW) TO T4IE VOTERS AT A REGULAR OR SPECIAL ELECTION AND THE ORDINANCE
SWILL BECOME EFFECTIVE UNTIL A MAJORITY OF THE VOTERS VOTING ON THE ORDINANCE
VOTE IN FAVOR OF IT. THE FOREGOING DESCRIPTION OF THE PROCEDURES FOR REFERENDUM
IS BASED UPON THE APPLICABLE REFERENDUM PROVISIONS OF THE CALIFORNIA ELECTIONS CODE
AND THE CALIFORNIA GOVERNMENT CODE. REFERENCE IS MADE TO THE CALIFORNIA ELECTIONS
CODE AND THE CALIFORNIA GOVERNMENT CODE FOR A COMPLETE STATEME31' OF SUCH'PROVI<SIONS.
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LODI NEWS SENTINEL CITY OF L O D I
221 W. Pine Street
ADVERTISING INSTRUCTIONS
Lodi, California
S u 1) j e c t— OROMANGE OF THE GITY GOUNM OF T11E CITY OF LODI AUTHORRIN6 TH,E f5SUANCEF
OF NQIES BY NORTHERN CALIFORNIA. POVER AGENCY (17QTHFRMM rFMFRATTNr, PRWECI NJIMBER 31
Publish Dates: /a to ill,
ece-Wye days�__
Tear Sheets Wanted
Affidavit and Bill To: ALICE M. REIMCHE, CITY CLERK, CITY HALL
DATE: Waisa -Ordered By: ALICE M. REIMCHE
CITY CLERK
ORDINANCE NO. 1274
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
LODI AUTHORIZING THE ISSUANCE OF NOTES BY
NORTHERN CALIFORNIA POWER AGENCY (GEOTHERMAL
GENERATING PROJECT NUMBER 3)
WHEREAS, pursuant to the provisions of Chapter 5, Division 7, Title 1
of the Government Code of the State of California, as amended (the "Joint Powers
Act"), the City of Lodi and certain other public agencies created pursuant to the
laws of the State of California (collectively, the "Members"), have entered into
a Joint Powers Agreement, as amended (the "Agreement"), creating the Northern'
California Power Agency (the "Agency"), a public entity separate and apart from
the Members; and
WHEREAS, in accordance with the Agreement and the Joint Powers Act, the
Agency has entered or will enter into agreements to acquire and construct (or
cause to be acquired and constructed) a project for the generation and transmission
of electric energy consisting of two 55 megawatt geothermal generating units and
related facilities, including transmission, proposed to be constructed in Sonoma
and Lake Counties, State of California, and capital improvements thereto that may
be constructed from time to time, and interests in certain other property and
rights relating thereto, including , without limitation, such interest in the
Agency's Geothermal Generating Project Number 2, as the Agency may determine
(the "Project"); and
WHEREAS, the Agency proposes to issue, in accordance with the Agreement
and the Joint Powers Act, from time to time, in one or more installments, its
notes and other evidences of indebtedness (including renewal notes) ("Notes")
to be outstanding at any one time in accordance with their terms in the estimated
maximum aggregate principal amount of $300,000,000, for the purpose of financing
studies, the acquisition of options, permits, and other preliminary costs to be
tncurred prior to the undertaking of the construction or acquisition of the Project
and for the purpose of providing temporary financing of costs of acquisition and
construction of the Project; and
WHEREAS, the Agency proposes to issue its revenue bonds and evidences
of indebtedness ("Public Power Revenue Bonds") for the purpose of providing
funds for the acquisition, construction and financing of the Project; and
WHEREAS, notwithstanding the aforesaid estimated maximum aggregate
principal amount of Notes proposed to be issued by the Agency for the Project and
to be outstanding at any one time in accordance with their terms, additional Notes
may be required to complete the financing of the Project; and
WHEREAS, the Agency has entered or will enter into oce or rare agreements
(the "Member Agreements") with certain entities (including two oy more of the
Members), pursuant to which the entities entering into such Member Agreements with
the Agency (the "Participants") will, in the aggregate, purchase options and/or
rights to purchase and/or receive 100% of the capacity and energy of the Project;
and
WHEREAS, the Notes are to be renewable from time to time and payable
from proceeds of renewal Notes and the proceeds of the Public Power Revenue Bonds
and, to the extent not so paid, may be payable from revenues of the Agency from
the Project, including payments to be made by the Participants under the Member
-1-
Agreements; and
WHEREAS, in accordance with the Joint Powers Act, the exercise by the
Agency of its power to issue the Notes is subject to the authorization of such
issuance by the Members pursuant to Ordinance; and
WHEREAS, neither the payment of principal of the Notes nor any part
thereof nor interest thereon shall constititue a debt, liability or obligation
of the City of Lodi; nor does this Ordinance commit the City of Lodi to take or
pay for any capacity or energy of the Project; and
WHEREAS, THIS City Council has authorized by Ordinance the issuance and
sale by the Agency of its Public Power Revenue Bonds, the proceeds from the sale
of which are to be used for the acquisition, construction and financing of the
Project, -,including interest on such Bonds and deposits to reserves, and to pay.
} the principal, premium, if any, and interest on the Notes authorized by this
Ordinance when due.
follows:
NOW, THEREFORE, the City Council of the City of Lodi does ordain as
I. The issuance -and sale by the Agency from time to time, in one
or more installments, of its Notes (including renewal Notes) out-
standing at any one time in accordance with their terms in a
maximum aggregate principal amount of $300,000,000 is hereby
authorized. Notwithstanding such maximum aggregate principal
amount, the Agency is hereby authorized to issue additional
principal amounts of Notes if and to the extent required to
complete the financing of the Project. The proceeds from the
sale of the Notes hereby authorized are to be used for the
financing of costs of acquisition and construction of the Project,
including interest on the Motes. The Notes hereby authorized are
to be renewable from time to time and such Notes, and premium, if
any, and interest thereon., are to be payable from proceeds of
renewal Notes and the proceeds of Public Power Revenue Bonds of
the Agency and, to the extent not so paid, may be payable from
revenues of the Agency from the Project, including payments
received by the Agency from the Participants under the Member
Agreements.
2. Pursuant to Section 6547 of the Joint Powers Act, this Ordinance
is subject to the provisions for referendum prescribed by Section
3751.7 of the Elections Code of the State of California.
3. The City Clerk shall certify to the enactment of this Ordinance
and shall cause notice of the same to be published in accordance
with Section 6040.1` of the Government Code of the State of
California.
4. Sixty (60) days from and after its enactment, this Ordinance
shall take effect and be in full force, in the manner provided
by law.
-2-
s
THE FOREGOING ORDINANCE is approved, enacted and adopted by the City
Council of the City of Lodi, this 27th day of October, 1982.
red M. Reid.
Mayor
ATTEST:
Alice M. Re mche
City Clerk
State of California
County of San Joaquin, ss.
I, Alice M. Reimche, City Clerk of the City of Lodi, do hereby
certify that Ordinance No. 1274 was introduced at a regular
meeting of the City Council of the cityofLodi held October
6, 1982 and was thereafter passed, adopted and ordered to print
at an adjourned regular meeting of said Council held October
27, 1982 by the following vote:
Ayes: Council Members - Olson, Snider,
•Murphy, Pinkerton,
and Reid
Noes: Council Members - None
Absent: Council Members - None
Abstain: Council Members - None
I further certify that Ordinance No. 1274 was approved and
signed by the Mayor on the date of its passage and the same
has been published pursuant to law.
Approved as to form
Ron M. Stein
City Attorney
-3-
ALICE M. REIMCHE
City Clerk
NOTICE OF ORDINANCE SUBJECT TO REFERENDUM
CITY OF LODI
ORDINANCE NO. 1274
ADOPTED BY THE CITY COUNCIL OF THE CITY OF LODI
ON OCTOBER 27, 1982
Notice is hereby given that at an adjourned regular meeting of the
City Council of the City of Lodi (the "City Council"), held on October 27, 1982,
Ordinance No. 1274 (the "Ordinance") was adopted. The title and a summary of
the Ordinance are set forth below. The Ordinance is subject to referendum, as
discussed below.
Title
ISSUANCE OFDNO ESE BOFNOORRTHCERN CALIFORNIACOUNCIL FTHE POWERCITY OF LODI AGENCY (GEOTHERMALIZING THE
GENERATING
UNITS !3 AND s4 PROJECT).
Summary
Pursuant to the Ordinance, the City Council has authorized the issuance
and sale by Northern California Power Agency (the "A ency") of its notes and other
evidences of indebtedness (including renewal notes) "Notes"), each to mature
within seven years from the date of issuance thereof, to be issued, from time
to time, in one or more installments, in an estimated aggregate principal amount
outstanding at any one time in accordance with their terms of $300,000,000 and
to bear interest at a probable overall rate of 11% per annum. The actual interest
_.^ rates on.each installment of such Notes or the method of determining such rates
will be determined by the Commission of the Agency in. accordance with law at the
time of issuance of such installment. Notwithstanding such maximum aggregate
principal amount of Notes, the Agency is authorized, pursuant to the Ordinance,
to issue additional principal amounts of its Notes if and to the extent required
to complete the financing of the Project discussed below.
The Agency was created pursuant to a Joint Powers Agreement, as amended
(the "Agreement")., heretofore entered into between the City of Lodi and certain
other public agencies created pursuant to the laws of the State of California
(collectively, the "Members") pursuant to the provisions of Chapter 5. -Division 7,
Title l of the Government Code of the State of California, as amended (the "Joi-nt
Powers Act"). The Agency is a public entity separate and apart from the Members.
The Agency, in accordance with the Joint Powers Act and the Agreement, has entered
or will: enter into agreements to acquire and construct (or to cause to be acquired
and constructed) a project for the generation and transmission of electric energy
consisting of two 55 -megawatt geothermal generating units and related facilities,
including transmission, proposed to be constructed in Sonoma and Lake Counties,
State of California, and capital improvements thereto that may be constructed`
from time to time, and interests in certain other property and rights relating
thereto, including, without limitation, such interest in the Agency's Geothermal
Project Number 2, as the Agency may determine (the "Project"). The Agency has
entered or will enter into one or more agreements (the "Member Agreements") with
certain entities (including two or more of the Members), pursuant to which the
entities entering into such Member Agreements with the Agency (the "Participants")
will, in the aggregate, purchase optiont and/or rights to purchase and/or receive
100% of the capacity and energy of the Project. The City Council heretofore has
authorized, by ordinance, the issuance and sale by the Agency of its Public Power
-4-
Revenue Bonds to provide funds for the acquisition, construction and financing
of the Project. The Public Power Revenue Conds are to be payable from funds held
in trust for the benefit of the holders of such Bonds and from revenues of the
Agency from the Project, including payments to be made by the Participants under
the Member Agreements.
Neither the payment or principal of the Notes nor any part thereof nor
interest thereon will constitute a debt, liability or obligation of the City of
Lodi; nor does the Ordinance commit the City of Lodi to take or pay for any
capacity or energy of the Project.
THE AGENCY PROPOSES TO ISSUE, IN ACCORDANCE WITH THE AGREEMENT AND THE
JOINT POWERS ACT, ITS NOTES (INCLUDING RENEWAL NOTES) FOR THE PURPOSE OF FINANCING
STUDIES, THE ACQUISITION OF OPTIONS, PERMITS, AND OTHER PRELIMINARY COSTS TO BE
INCURRED PRIOR TO THE MIRTAKING Of THE CONSTRUCTION OR ACQUISITION OF THE PROJECT
AND FOR THE PURPOSE OF PROVIDING TEMPORARY FINANCING OF COSTS OF ACQUISITION AND
CONSTRUCTION OF THE PROJECT. THEMOTES ARE TO BE PAYABLE; FROM THE PROCEEDS OF
RENEWAL NOTES AND FROM THE PROCEEDS OF THE PUBLIC POWER REVENUE BONDS AND, TO THE
EXTENT NOT SO. PAID, MAY BE PAYABLE FROM REVENUES OF THE AGENCY FROM THE PROJECT,
INCLUDING PAYMENTS Ta BE MADE BY THE PARTICIPANTS UNDER THE MEMBER AGREEMENTS.
THE OPINANCE AL-M-10RIZING THE ISSUANCE OF THE NOTES IS SUBJECT TO
REFERENDUM. UPON PRESENTATION (WITHIN THE TIME PERIOD SPECIFIED BY LAW) OF A
PETITION (BEARING SIGNATURES, IN AT LEAST THE NUMBER REQUIRED BY THE LAW) PROTESTING
AGAINST THE ADOPTION OF THE ORDINANCE, THE CITY COUNCIL IS REQUIRED TO RECONSIDER
THE ORDINANCE. THEREUPON, IF THE CITY COUNCIL DOES NOT ENTIRELY REPEAL THE
ORDINANCE, THE ORDINANCE SHALL BE SUBMITTED (UNDER BALLOT WORDING PRESCRIBED BY
LAW) TO THE VOTERS AT A REGULAR OR SPECIAL ELECTION AND THE ORDINANCE SHALL NOT
BECOME 'EFFECTIVE UNTIL A MAJORITY OF THE VOTERS VOTING ON THE ORDINANCE VOTE IN
FAVOR OF IT. THE FOREGOING DESCRIPTION OF THE PROCEDURES FOR. REFERENDUM IS BASED
UPON THE APPLICABLE REFERENDUM PROVISIONS OF THE CALIFORNIA ELECTIONS CODE AND THE
CALIFORNIA GOVERNMENT CODE. REFERENCE IS MADE TO THE CALIFORNIA ELECTIOSN CODE
AND THE CALIFORNIA GOVERNMENT CODE FOR A COMPLETE STATEMENT OF SUCH PROVISIONS.
5a
LODI NEWS SENTINEL CITY OF L O D I
'221 W. Pine Street Lodi, Califo rriia
ADVERTISING INSTRUCTIONS
S u bj e c t— nRn7uAmrr nF JHr rTjy—c0-1-1bk-'-f1- OF Mif MY OF LODI Al-aNG-R-T 2- I -NG PF 166UMGE
OF PUBLIC POWER REVENUE REFUNDING BONDS By NORTHERN CALIFORNIA POWER AGENCY
Publish Dates: Dis to illy? fg; consecutive f1ji ys)
Tear Sheets WantedThi
-
Affida:vit and Bill To: ALICE M. REIMCHE, CITY CLERK, CITY HALL
�... _: .. .. ':.; .. •_'••. �-..-. t�.A�e�Y � -. .. .. ... ... .. .. .. :., .. ..+ ..+ -•-•tiMM.eG� brs4+.ew'NteMeN.wy .
r�
ORDINANCE NO. 1275
ORDINANCE OF THE CITY COUNCIL Of THE CITY OF LODI
AUTHORIZING THE ISSUANCE OF PUBLIC POWER REVENUE
REFUNDING BONDS BY NORTHERN CAt:FORNIA POWER AGENCY
WHEREAS, pursuant to the provisions of Chapter 5, Division 7, Title 1
of the Government Code of the State of California, as amended (the "Joint Powers Act"),
the City of Lodi and certain other public agencies created pursuant to the laws of the
State of California (collectively, the "Members"), have entered into a Joint Powers
Agreement, as amended (the "Agreement"), creating the Northern California Power Agency
(the 'Agency"), a public entity separate and apart from the Members; and
WHEREAS, in accordance with the Agreement and the Joint Powers Act, the
Agency has entered or will enter into agreements to acquire and construct (or to cause
and to be acquired and constructed) a project for the generation and transmission of
electric energy consisting of certain geothermal generating units (known as Geothermal
Project Number 2) and related facilities, and capital improvements thereto that may be
constructed from time to time, and interests in certain other property and rights
relating thereto ("Project Number 2"); and
WHEREAS, the Agency has heretofore issued its $40,000,000 Public Power
Revenue Bonds, 1981 Series A, and its $15,000,000 Public Power Revenue Bonds, 1982
Series A. and has assigned to the Bank of Montreal (California) (the "Bank") its rights
to receive certain payments under the member agreement relating to Project Number 2, to
secure the obligation of the Northern California Municipal Power Corporation No. Two
(the "Corporation") to the Bank under a Loan Agreement wherein the Corporation has
borrowed the amount of $45,000,000 from the Bank, such loan guaranteed by the United
States Department of Energy, all to finance a portion of the costs of constrt+ction and
acquisition of Project Number 2 (together, the "Outstanding Indebtedness"); and
WHEREAS, the Agency is considering the construction of an additional project
for the generation and transmission of electric energy consisting of two 55 megawatt
geothermal generating units a:nd related facilities, including transmission, proposed to
be constructed in Sonoma and Lake Counties, State of California, and capital improvements
thereto that may be constructed from time to time, and interests in certain other
property and rights relating thereto ("Project Number 3"); and
WHERAS, the Agency proposes to issue, in accordance with the Agreement and
the Joint Powers Act, from time to time, in one or more installments, its revenue
refunding bonds and evidences of indebtedness (including refunding bonds) ("Public
Power Revenue Refunding Bonds") to be outstanding at any one time in accordance with
their terms in the estimated maximum aggregate principal amount of $125,000,000 for the
purpose of providing funds for the refinancing of all or a,R,portion of the Outstanding
Indebtedness;. and
WHEREAS, notwithstanding the aforesaid estimated meximum aggregate principal
amount of Public Power Revenue Refunding Bonds proposed to be issued by the Agency for
the Project and to be outstanding at any one time in accordance with their terms,
additional Public Power Revenue Refunding Bonds may be required to complete the refinanc-
ing of all or a portion of the Outstanding Indebtedness; and
WHEREAS, the Agency has entered or will enter into one or more agreements
(the "Member Agreements") with certain entities (including two or more of the
i
Members"), pursuant to which the entities entering into such Member Agreements t
with the Agency (the "Participants") will, in the aggregate, purchase options
and/or rights to purchase and/or receive 100% of the capacity and energy of
Project Number 2, and, if so determined by the Agency, Project Number 3; and
WHEREAS, the Public Power Revenue Refunding Bonds are to be payable
from funds held in trust for the benefit of the holders of such Bonds and from
revenues of the Agency from Project Number 2, and, if so determined by the Agency,
Project Number 3, including payments to be made by the Participants under the
Member Agreements; and
WHEREAS, in accordance with the Joint Powers Act, the exercise by the
Agency of its power to issue the Public Power Revenue Refunding Bonds is subject
to the authorization of such issuance by the Members pursuant to Ordinance; and
WHEREAS, neither the payment of principal of the Public Power Revenue
Refunding Bonds nor any part thereof nor interest thereon shall consititute a
debt, liability or obligation of the City of Lodi; nor does this Ordinance commit
the City of Lodi to take or pay for any capacity or energy of the Project.
NOW, THEREFORE, the City Council of the City of Lodi does ordain as
follows:
1. The issuance and sale by the Agency, from time to time, in
one or more installments, of its Public Power Revenue Refunding
Bonds outstanding at any one time in accordance with their terms
in a maximum aggregate principal amount of $125,000,000 is hereby
authorized. Notwithstanding such maximum aggregate principal
amount, the Agency is hereby authorized to issue additional
principal amounts of its Public Power Revenue Refunding Bonds if
and to the extent required to complete the refinancing of the
Project. The proceeds from the sale of the Public Power Revenue
Refunding Bonds hereby authorized are to be used for the
refinancing of all or a portion of the Outstanding Indebtedness,
including interest on such Bonds, deposits to reserves, all
expenses incident to the calling retiring, or payment of any or
all of the Outstanding Indebtedness, including the costs of issuing
sucn Bonds and any premium necessary in the calling or retiring of
the Outstanding Indebtedness. The Public Power Revenue Refunding
Bonds hereby authorized, and premium and interest thereon, are
to be payable from, and secured by, funds held in trust for the
benefit of the holders of Public Power Revenue Refunding Bonds.
and from revenues of the Agency from Project Number 2, and, if
so determined by the Agency, Project Number 3, including payments
received by the Agency from the Participants under the Member
Agreements.
2. Pursuant to Section 6547 of the Joint Powers Act, this Ordinance
is subject to the provisions for referendum prescribed by Section
3751.7 of the Elections Code of the State of California.
3. The City Clerk shall certify to the enactment of this Ordinance
and shall cause notice of the same to be published in accordance
with Section 6040.1 of the Government Code of the State of California.
r
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4. Sixty (60) days from and after its enactment, this Ordinance
shall take effect and be in full force, in the manner provided
by law.
THE FOREGOING ORDINANCE is approved, enacted and adopted by the City
Council of the City of Lodi, this 27th day of October, 1982.
Fred M.' -Reid
Mayor
Attest:
Alice M. Reimche
City Clerk
State of California
County of San Joaquin, ss.
I, Alice M. Reimche, City Clerk of the City. of Lodi,
do hereby certify that Ordinance No. 1275 was introduced
at a regular meeting of the City Council of the City of
Lodi, held October 6, 1982 and was thereafter passed,
adopted and ordered to print at an ajournedregular
meeting of said Council held October 27, 1982 by the
following vote:
Ayes: Council Members - Murphy, Olson, Snider,
Pinkerton, and Reid (Mayor)
Noes Council Members - None
Absent: Council Members - None
Abstain: Council Members - None
I further certify that Ordinance No. 1275 was approved and
signed by the Mayor on the date of its passage and the same
has been published pursuant to law.
ALICE M. REIMCHE
City Clerk
Approved as to form
Ron M. Stein
City Attorney
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NOTICE OF ORDINANCE SUBJECT TO REFERENDUM
CITY OF LODI
ORDINANCE NO-. 1275
ADOPTED BY THE CITY COUNCIL OF THE CITY OF LODI
ON OCTOBER 27, 1982
Notice is hereby given that at an adjourned regular meeting of the
City Council of the City of Lodi (the "City Council"), held on October 27, 1982,
Ordinance No. 1275 (the "Ordinance") was adopted. The title and a summary of
the Ordinance are set forth below. The Ordinance is subject to referendum, as
discussed below.
Title
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LODI AUTHORIZING THE
ISSUANCE OF PUBLIC POWER REVENUE REFUNDING BONDS BY NORTHERN CALIFORNIA POWER
AGENCY
Summary
Pursuant to the Ordinance, the City Council has authorized the issuance
and sale by Northern California Power Agency (the "Agency") of its revenue
refunding bonds and evidences of indebtedness ("Public Power Revenue Refunding.
Bonds"), to mature on or before December 31, 2023 to be issued, from time to time,
in one or more installments, in an estimate aggregate principal amount out-
standing at any one time in accordance with their terms of $125,000,000 and to
bear interest at a probable overall rate of 13% per annum. The actual interest
rates on each installment of such Public Power Revenue Refunding Bonds or the
method of determining such rates will be determined by the Commission of the
Agency in accordance with law at the time of issuance of such installment.
Notwithstandi:ng,such maximum aggregate principal amounts of Public Power Reven=ue
Refunding Bonds, the Agency is authorized, pursuant to the Ordinance, to issue
additional principal amounts of its Public Power Revenue Refunding Bonds if and
to the extent required to complete the financing of the Project discussed below.
The Agency was created pursuant to a Joint Powers Agreement, as amended
(the "Agreement") heretofore entered into between the City of Lodi and certain
other public agencies created pursuant to the laws of the State of California
(collectively, the "Members") pursuant to the provisions of Chapter 5, Divisio 7,
Title 1 of the Government Code of the State of California, as amended (the "Joint
Powers Act"'). The Agency is a public entity separate and apart from the Members.
The Agency, in accordance with the Joint Powers Act and the Agreement, has
entered or will enter into agreements to acquire and construct (or cause to be
acquired and constructed) a project for the generation and transmission of
electric energy consisting of certain geothermal generating units (known as
Geothermal Project Number 2) and related facilities, and capital improvements
thereto that may be constructed from time to time, and interests in certain other
property and rights relating thereto ("Project Number 2"). The Agency has
heretofore issued its $40,000,000 Public Power Revenue Bonds, 1981 Series A,
and its $15,000,000 Public Power Revenue Bonds, 1982 Series A, and has assigned
to the Bank of Montral (California) (the "Bank") its rights to receive certain
payments under the member agreement relating to Project Number 2, to secure the
obligation of the Northern California Municipal Power Corporation No. Two (the
"Corporation") to the Bank under a Loan Agreement wherein the Corporation has
borrowed the amount of $45,000,000 from the Bank, such loan guaranteed by the
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10
United States Department of Energy, all to finance a portion of the costs of
construction and acquisition of Project Number 2 (togehter, the "Outstanding
Indebtedness"). The Agency is considering the construction of an additional
project for the generation and transmission of electric energy consisting of two
55 megawatt geothermal generating units and related facilities, including
transmission, proposed to be constructed in Sonoma and Lake Counties, State of
California, and capital improvements thereto that may be constructed from time
to time, and interests in certain other property and rights relating thereto
("Project Number 3"). The Agency has entered or will enter into one or more
agreements (the "Member Agreements") with certain entities (including two or
more of the Members), pursuant to which the entities entering into such Member
Agreements with the Agency (the "Participants") will, in the aggregate, purchase
options and/or rights to purchase and/or receive 100% of the capacity and
energy of the Project.
Neither the payment of principal of the Public Power Revenue Refunding
Bonds nor any part thereof nor interest thereon will constitute a debt, liability
or obligation of the City of Lodi; nor does the Ordinance commit the City of Lodi
to take or pay for any capacity or energy of the Project.
THE AGENCY PROPOSES TO ISSUE, IN ACCORDANCE WITH THE AGREEMENT AND THE
JOINT POWERS ACT, ITS PUBLIC POWER REVENUE REFUNDING BONDS TO PROVIDE FUNDS FOR
THE REFINANCING OF ALL OR A KlATION OF THE OUTSTANDING INDEBTEDNESS. THE PUBLIC
POWER REVENUE REFUNDING BONDS ARE TO BE PAYABLE FROM FUNDS HELD IN TRUST FOR
THE BENEFIT OF THE HOLDERS OF SUCH BONDS AND FROM REVENUES OF THE AGENCY FROM
PROJECT NUMBER 2 AND, IF SO DETERMINED BY THE AGENCY, PROJECT NUMBER 3 INCLUIDING
PAYMENTS TO BE MADE BY THE PARTICIPANTS UNDER THE MEMBER AGREEMENTS.
THE ORDINANCE AUTHORIZING THE ISSUANCE OF THE PUBLIC POWER REVENUE
REFUNDING BONDS IS SUBJECT TO REFERENDUM. UPON PRESENTATION (WITHIN THE TIME
PERIOD SPECIFIED BY LAW) OF A PETITION (BEARING SIGNATURES, IN AT LEAST THE
NUMBER REQUIRED -BY THE LAW) PROTESTING AGAINST THE ADOPTION OF THE ORDINANCE,
THE CITY COUNCIL IS REQUIRED TO RECONSIDER THE ORDINANCE. THEREUPON, IF THE
CITY COUNCIL DOES NOT ENTIRELY REPEAL THE ORDINANCE, THE ORDINANCE SHALL BE
SUBMITTED (UNDER BALLOT WORDING PRESCRIBED BY LAW) TO THE VOTERS AT A REGULAR
OR SPECIAL ELECTION AND THE ORDINANCE SHALL NOT BECOME EFFECTIVE UNTIL A MAJORITY
OF THE VOTERS VOTING ON -THE ORDINANCE VOTE IN FAVOR OF IT. THE FOREGOING
DESCRIPTION OF THE PROCEDURES FOR REFERENDUM IS BASED UPON THE APPLICABLE
REFERENDUM PROVISIONS OF THE CALIFORNIA ELECTIONS CODE AND TEL CALIFORNIA
GOVERNMENT CODE. REFERENCE IS MADE TO THE CALIFORNIA ELECTIONS CODE AND THE
CALIFORNIA GOVERNMENT CODE FOR A COMPLETE STATEMENT OF SUCH PROVISIONS.
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