HomeMy WebLinkAboutOrdinances - No. 1190ORDINANCE NO. 1190
AN ORDINANCE OF THE CITY OF LODI,
ERN CALIFORNIA POWER AGENCY TO
CALIFORNIA AUTHORIZING THE NORTH-
ISSUE REVENUE BONDS
The City Council of the City of Lodi, California does
ordain as follows:
Section 1. 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, is hereby
authorized to issue revenue bonds, as provided in said Joint
Powers Agreement, pursuant to the provisions of Article 2 (com-
mencing with Section 65401, Chapter 5, Division 7, Title 1 of
the Government Code of the State of California in an amount not
to exceed Twenty-eight Million Dollars ($28,000,000>, for the
project described :in' Section 2 hereof provided that nothing herein
shall be deemed to prevent the issuance of additional bonds to
the extent such additional bonds are required to complete the
financing of the project described in Section 2 hereof.
Section 2. The project to be funded by the revenue bonds
hereby authorized is the loaning of funds to Northern California
Municipal Power Corporation No, Two, a non-profit corporation
(the "Corporation"), for the purpose of acting on behalf of NCPA
in the acquisition, construction, maintenance and operation of
a power plant (using geothermal steam produced from certain lease-
hold interests of Shell Oil Company in Sonoma County, California
1
and provided to NCPA pursuant to a Geothermal Steam Sales Agree-
ment dated as of June 27, 1977, as amended), and other facilities
and appurtenances necessary or convenient to such plant, including
transmission lines.
Section 3. The anticipated sources of revenue for the payment
of the bonds herein authorized to be issued by the NCPA are loan
repayments to be made by the Corporation to NCPA under an appro-
priate loan agreement and to be derived from the sale of power
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 Unit Project #2" as may
from time to time be amended.
Section 4. The Cities of Palo Alto and Redding are not par-
ticipants in the acquisition, construction, maintenance, operation
or financing of the plant referred to in Section 2 hereof and
nothing in this ordinance shall mean or be construed to mean that
the City of Palo Alto or the City of Redding has assumed or agreed
to assume any financial or other responsibility or liability
associated with the acquisition, construction, maintenance, oper-
ation or financing of such plant.
Section 5. 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 foregoing, this ordinance
2
shall take effect and be in force sixty (60) days from the date
of adoption.
Section 6. The City Clerk of the City is hereby directed to
cause this ordinance to be published within fifteen days after
its adoption in a newspaper of general circulation within the City
of Lodi, California and shall also do all other things required
to cause notice of the adoption of this ordinance to be published
in the manner required by Section 6040.1 of the Government Code
of the State of California.
Approved this 19th day,of March 1980
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. 1190 was introduced at a regular
meeting of the City Council of the City of Lodi held March 5, 1980
and was thereafter passed, adopted and ordered to print at a
regular meeting of said Council held March 19, 1980 by the following
vote:
Ayes : Councilmen - Hughes, Katnich, McCarty, and
Pinkerton
Noes: Councilmen - None
Absent: Councilmen - None
Abstain: Councilmen - Katzakian
I further certify that Ordinance No. 1190 was approved
and signed by the Mayor on the date of its passage and the same has
been published pursuant to law.
CITY CLERK
3
NOTICE
NOTICE IS HEREBY GIVEN as required by Section 6040.1 of the
Government Code of the State of Californi.a, that Ordinance No.
1190 of the City of Lodi, California, was adopted by the City
Council on March 19, 1980, and authorized the issuance of revenue
bonds, 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, California is a party,
dated July 19, 1968, as amended, in an amount not to exceed
$28,000,000.
Ordinance No. 1190 is subject to the provisions for referendum
prescribed by Section 3751.7 of 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 with the boundaries of the City
of Lodi, California was less than 500,000 the above named ordin-
ance is subject to referendum upon presentation of a petition
bearing signatures of at least 10 percent of the entire vote case
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
1
the preceding paragraph, the ballot working shall approximate
the following:
"Shall 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 bonds
by the joint powers entity in the maximum amount of $28,000,000
pursuant to Ordinance No. 1190, dated March 19, 1980, such bonds
to be used for the following purposes and to be redeemed in the
following manner:
to provide a portion of the cost 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 Northern California Municipal Power Corporation No.
Two for the purpose of acquiring, constructing, and main-
taining an electric power plant. The anticipated sources
of revenue for the payment of the bonds are the loan repay-
ments to be made by Northern California Municipal Power
Corporation No. Two which will be derived from the sale of
the electric power generated by the plant, and payments
by certain NCPA members if such revenues from power sales
are insufficient.
The bonds authorized by Ordinance No. 1190 are revenue bonds
of the Northern California Power Agency. The purpose of the
issuance and sale of said bonds is to provide a portion of the
cost of construction of an electric generating plant powered by
geothermal steam and the related transmission lines and appurtenances
2
necessary or convenient thereto in the County of Sonoma by
loaning funds to Northern California Municipal Corporation No.
Two. The maximum amount of the bonds 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 bonds or any series thereof. The anticipated sources of
revenue'for the payment of the bonds are the loan repayments to
be made by Northern California Municipal Power Corporation No.
Two, which will be derived from the sale of the electric power
generated by the plant, and payments by certain NCPA members if
such revenues from power sales are insufficient.
rate of interest on said bonds will not exceed 10%.
The anticipated
The cities of Palo Alto and Redding are not participants 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 financing of such plant.
Dated this 29th day of March, 1980.
ALICE M. REIXCHE
Clerk of the City of Lodi, Californiz
3