HomeMy WebLinkAboutResolutions - No. 2001-243RESOLUTION NO. 2001-243
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE
CITY MANAGER TO EXECUTE A MASTER POWER PURCHASE
AND SALE AGREEMENT BETWEEN THE CITY OF LODI AND THE
STATE OF CALIFORNIA DEPARTMENT OF WATER RESOURCES
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WHEREAS, in today's energy markets, most transactions are conducted under
the general terms and conditions of a standardized master power purchase and sale
agreement; and
WHEREAS, these master agreements set forth the obligations of the parties
related to performance under different types of energy related products. Once a master
agreement is in place, the parties can concentrate their efforts on the commercial terms
of different energy related transactions. Legal and administrative reviews of different
transactions are greatly expedited using this process; and
WHEREAS, approval of the master power purchase and sale agreement
between the City of Lodi and the State of California Department of Water Resources
establishes the general obligations and rights of the parties without specifying the
commercial terms of contemplated transactions. Specific Transaction terms will be
presented and approvals sought in separately prepared documents appended to the
master agreements as exhibits thereto; and
WHEREAS, the Electric Utility Department respectfully requests City Council
authorization for the City Manager to execute the Master Power Purchase and Sale
Agreement presented here in substantially final form.
NOW, THEREFORE, BE IT RESOLVED, that the Lodi City Council does hereby
authorize the City Manager to execute the Master Power Purchase and Sale Agreement
between the City of Lodi and the State of California Department of Water Resources,
presented in substantially final form.
Dated: October 30, 2001
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I hereby certify that Resolution No. 2001-243 was passed and adopted by the
City Council of the City of Lodi in a special meeting held October 30, 2001 by the
following vote:
AYES:
COUNCIL MEMBERS — Hitchcock, Howard and Mayor Nakanishi
NOES:
COUNCIL MEMBERS — None
ABSENT:
COUNCIL MEMBERS — Land
ABSTAIN:
COUNCIL MEMBERS — Pennino
SUSAN J. BLACKSTON
City Clerk
2001-243