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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 -7- 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 - 1 - 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. - 2 - 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 - 3 - 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. -5- 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 -2- Q 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 -3- "�14�.++!MY�+NY..CAINwi/•Y'w..�`"'^^vC++Pl+sxb+n..au.. n .. IrNs/xYw^amx.J1+K ..JiR, Mihk'Ye9�6hVM4Y$piYMN 3 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 -4- 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. -5