HomeMy WebLinkAboutResolutions - No. 85-69RESOLUTION No. 85-69
RESOLUTION ESTABLISHING A RATE NORMALIZATION RESERVE
IN THE CITY OF LODI ELECTRIC UTILITY FUND
WHEREAS, the City of Lodi in order to provide funding for the
City's ultimate share of the costs of the Calaveras County Water
Project during the first four years of its operation is desirous of
establishing a Rate Normalization Reserve in the City of Lodi Electric
Utility Furl.
WHEREAS, it was Staff's recommendation that the initial
contribution to this reserve as part of the 1985-86 Operating Budget be
$500,000.
WHEREAS, other monies previously received by the City to be placed
in this reserve include the recent refund to the City of its share of
the Calaveras Project Development Fund; the NCPA Development Fund
repayment; and the refund from PG &E of monies owed wholesale power
purchasers resulting from the sale of certain coal facilities and
settlement of hydro purchases.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of
Lodi does hereby appropriate the amount of $1,578,083 to establish the
Rate Normalization Reserve in the Electric Utility Fund.
Dated: June 19, 1985
I hereby certify that Resolution No. 85-69 was passed
and adopted by the City Council of the City of Lodi in
a Regular Meeting held June 19, 1985 by the following vote:
AYES: Council Members - Olson, Reid, Snider,
Hindren (Mayor)
NOES: Council Members - Pinkerton
ABSENT: Council Members - None
Jam- !IL
ALICE M.
City Clerk