Ordinance 2004CITY OF ALAMEDA ORDINANCE NO. 2004
New Series
AUTHORIZING THE NORTHERN CALIFORNIA POWER AGENCY
TO ISSUE REVENUE BONDS
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF ALAMEDA that:
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 (commencing with
Section 6540), 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
and provided to NCPA pursuant to a Geothermal Steam Sales Agreement
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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 appropriate 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
participants 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, operation 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 shall take effect and be in force sixty (60) days from
the date of adoption.
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section 6 . The City Clerk of the City is hereby directed
to cause this ordinance to be published within fifteen (15) days
after its adoption in a newspaper of general circulation within
the City of Alameda and shall also do all other things required
to cause notice of the adoption of this ordinance to be pub-
lished in the manner required by Section 6040.1 of the Government
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Code of the State of California.
Attest: Presidin Officer of the Council
City Clerk
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I, the undersigned, hereby certify that the foregoing
Ordinance was duly and re ularly adopted and passed by the Council
of the City of Alameda in regular meeting assembled on the
4th day of March, 1980, by the following vote, to wit:
AYES: Councilmen Diament, Sherratt, Stone, Tillman
and President Corica - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the official seal of said City this 5th day of March, 1980.
City Lim of th i y p f Alameda