HomeMy WebLinkAboutAgenda Report - November 6, 1985 (59)RESOLUTION AWHORIZING
EXECUTION OF PRQ7DCP
DEVELOPMENT AGREEMENT
#2 FOR TRANSMISSION
AGENCY OF NORTHERN
CA ,IFORNIA (TANG)
RES. NO. 85-158 City Manager Peterson presented for Council
approval California -Oregon Transmission
Project (Project Agreement No. 2) . Mr.
Peterson apprised the Council that this is
the next step in realizing the completion
of the construction of the proposed 500 -KV
transmission line between Central California
and Southern Oregon. The project participants
include not only the Northern California Power
Agency INCPA) cities, but six Southern
cities,ie""SaCtit'"'Mtiti`is
Utility District, the State of California,
the Federal Government, and the three investor-
owned utilities in the state which includes
the Pacific Gas and Electric Company.
Execution of this agreement by all of the
agencies belonging to the Transmission Agency
of Northern California (TAMC) authorizes
TANC to execute an agreement to proceed with
the project in partnership with the other
public and private entities listed above.
The City of Lodi has a 1.686% share in TANC.
It is not possible to pinpoint the precise
financial obligation of our city until the
bonds are sold. However, Mr. Peterson advised
that the City anticipates an issue of
approximately $450,000,000 which would translate
to an annual debt service obligation of
something in the range of $250,000 to $275,000.
This would be funded via our rate structure in
effect at the time the project is undertaken
1990) .
Following discussion, on motion of Mayor Pro
Tempore Reid, Hinchman second, Council adopted
Resolution No. 85-158 authorizing execution of
Project Development Agreement #2 for
Transmission Agency of Northern California
(TANG), and authorized the Mayor and City
Clerk to execute the subject document on
behalf of the City.
The _motion carried by the following vote:
Ayes: Council Members -- Reid, Snider,
and Hinchman (Mayor)
Noes: Council Mezrbers - Pinkerton
Council Manbers - Olson
0
:
Y
s
RESOLUTION NO. 85-158
RESOLUTION AUTHORIZING EXECUTION OF PRGJECT
DEVELOPMENT AGREEMENT #(2 FOR THE TRANSMISSION AGENCY OF
NORTHERN CALIFORNIA (IANC) -
RESOLVED, that the City Council of the City of Lodi toes hereby
authorize the execution of Project Agreement No. 2 dated September 30,
1985.
BE IT FLTaHER RESOLVED, that the City Council of the City of Lodi
does hereby authorize the Mayor and City Clerk to execute the subject
agreement or behalf of the City.
Dated: November 6, 1985
I hereby certify that Resolution No. 85-158 was passed
and adopted by the City Council of the City of Lodi in
a Regular Meeting held November 6, 1985 by the following
vote:
AYES: Council Members - Reid, Snider and Hinchman
NOES: Council Members - Pinkerton
ABSENT: Council Members - Olson
ABSTAIN: Council Menbers - None
ATTEST:
ALICE M. REIMCHE
City Clerk
OUNCIL CQ1 W' UNICATM
TO: THE CITY COUNCIL DATE NO:
FROM: ,THE CITY h1ANAGER'S OFFICE October 31, 1985
S:iB,1ECT: CALIFORNIA -OREGON TpANSIISSION PROJECT (PROJECT AGFERMgT NO. 2)
RECO�'DED ACTION: That the City Council authorize the execution of &=
Project Agreement No. 2 for the construction of the California -Oregon
Transmission Project.
BACKGROUND INFORMATION: This is the next step in realizing the completion
of the construction of the proposed 500 -KV transmission line between =
Central California and Southern Oregon. A copy of the project agreement is
enclosed with this agenda. As the Council is aware, the project
participants include not only the Northern California Power Agency (NCPA)
cities, but six Southern California cities, the Sacramento Municipal_.'
Utility District, the State of California, the Federal Government, and the
three investor-owned utilities in the state which includes the Pacific Gas Rik:;.
and Electric Company,
Execution of this agreement by all of the agencies belonging to the
Transmission Agency of Northern California (TAMC) authorizes TANC to
execute an agreement to proceed with the project in partnership with the
other public and private entities listed above.
The City of Lodi has a 1.686% share in TANC. It is riot possible to
pinpoint the precise financial obligation of our city until the bonds are
sold. However, we anticipate an issue of approximately $450,000,000 which
would translate to an annual debt service obligation of somethingin the
range of $250,000 to $275,000. This would be funded via our rate structure
in effect at the time the project is undertaken (1990).
The staff will be pleased to answer any questions Councilnembers may have
concerning this item.
Respec fully submitted,
I
Thomas A. Peterson
City Manager
TAP/lh