Ordinance 2036CITY OF ALAMEDA ORDINANCE NO. 2036
New Series
AUTHORIZING THE NORTHERN CALIFORNIA POWER
AGENCY TO ISSUE REVENUE NOTES
WHEREAS, by Ordinance No. 2004 N.S. of the City of Alameda,
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, was authorized to issue revenue bonds,
as provided in said Joint Powers Agreement, pursuant to the provi-
sions of Article 2 (commencing with Section 6540), Chapter 5,
Division 7, Title 1 of the Government Code of the State of Cali-
fornia, in an amount not to exceed Twenty -Eight Million Dollars
($28,000,000) ( "Bonds "), for the project described in said
ordinance;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY
OF ALAMEDA that:
Section 1 . The previous authorization of Bonds under Sec-
tion 6547 of the Government Code shall hereby include in addition
the authorization to issue notes or other evidences of indebted-
ness to the extent permitted or authorized by Sections 6547 and
6547.1 of the Government Code ( "Notes "). That the provisions of
said ordinance with respect to the Bonds shall apply to the Notes
authorized hereunder.
Section 2 . The project or studies or other preliminary
cost to be funded (including reimbursement) by the Notes hereby
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authorized is the loaning of funds to Northern California
Municipal Power Corporation No. Two, 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 agree-
ment dated as of June 27, 1977, as amended), and other facilities
and appurtenances necessary or convenient to such plant, includ-
ing transmission lines.
Section 3 . The maximum amount of Notes to be issued for
the purposes described in Section 2 shall not exceed Twenty -Eight
Million Dollars ($28,000,000), the same as the amount of the Bonds.
Section 4 . The anticipated sources of revenue or other
funds to pay the principal and interest of the Notes 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; provided, further, such sources
shall also include the proceeds of revenue bonds including the
Bonds, or renewal of the Notes; in addition such Notes may be
secured by a guaranty, letter of credit or other obligations or
funds of a bank or private financial institution.
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Section 5 . The Cities of Palo Alto, Redding and Biggs are
not participants in the acquisition, construction, maintenance,
operation or financing of the plant referred to in the recitals
hereof and nothing in this ordinance shall mean or be construed
to mean that the City of Palo Alto, the City of Redding or the
City of Biggs 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 6 . 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.
Section 7 . 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 published in
the manner required by Section 6040.1 of the Government Code of
C?
L the State of California.
eet
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' Attest: Presi9l- g Officer of the Council
n.
City Clerk
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I, the undersigned, hereby certify that the foregoing
Ordinance was duly and regularly adopted and passed by the
Council of the City of Alameda in regular meeting assembled
on the 3rd of February, 1981, by the following vote, to wit:
AYES: Councilmen Oiament, 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 4th day of
February, 1981.
,ty Clerk of Cn City f'Alameda