HomeMy WebLinkAboutResolutions - No. 2001-244RESOLUTION NO. 2001-244
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING
THE CITY MANAGER TO EXECUTE EXHIBIT "A" OF THE MASTER
POWER PURCHASE AND SALE AGREEMENT BETWEEN THE
CITY OF LODI AND THE STATE OF CALIFORNIA
DEPARTMENT OF WATER RESOURCES
WHEREAS, the State of California Department of Water Resources (DWR) and
the City of Lodi Electric Utility Staff have been working for several months to develop the
framework for a long-term relationship whereby DWR and the City would have the ability
to conduct a variety of mutually benefiting long-term energy related transactions; and
WHEREAS, in this instance, DWR has requested that the City enter into an
agreement whereby the City would sell to DWR 15Mw of firm power for a period of
fifteen (15) years City staff believes that such a transaction is consistent with the long-
term interests of the City. The terms and conditions of the transactions are well known
other than price. As previously noted, energy markets operate on a very short time
frame related to pricing provisions. To the extent this agreement is executed by the City
Manager, the pricing terms will be demonstrably beneficial to the City; and
WHEREAS, City Staff respectfully requests City Council authorization for the
City Manager to execute Exhibit A of the Master Power Purchase and Sale Agreement
between the City of Lodi and DWR providing the agreement is financially beneficial to
the City.
NOW, THEREFORE, BE IT RESOLVED, that the Lodi City Council does hereby
authorize the City Manager to execute Exhibit "A" of the Master Power Purchase and
Sale Agreement between the City of Lodi and the State of California Department of
Water Resources presented here in substantial final form.
Dated: October 30, 2001
hereby certify that Resolution No. 2001-244 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
2001-244