Ordinance 2112CITY OF ALAMEDA ORDINANCE NO. 2112
New Series
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ALAMEDA
AUTHORIZING THE ISSUANCE OF NOTES BY NORTHERN
CALIFORNIA POWER AGENCY (GEOTHERMAL GENERATING
PROJECT NUMBER 3)
WHEREAS, pursuant to the provisions of Chapter 5, Division
7, Title 1 of the Government Code of the State of California,
as amended (the "Joint Powers Act "), the City of Alameda and
certain other public agencies created pursuant to the laws of
the State of California (collectively, the "Members "), have
entered into a Joint Powers Agreement, as amended (the "Agreement "),
creating the Northern California Power Agency (the "Agency "),
a public entity separate and apart from the Members; and
WHEREAS, in accordance with the Agreement and the Joint
Powers Act, the Agency has entered or will enter into agreements
to acquire and construct (or to cause to be acquired and con-
structed) a project for the generation and transmission of electric
energy consisting of two 55 megawatt geothermal generating units
and related facilities, including transmission, proposed to
be constructed in Sonoma and Lake Counties, State of California,
and capital improvements thereto that may be constructed from
time to time, and interests in certain other property and rights
relating thereto, including, without limitation, such interest
in the Agency : s Geothermal Generating Project Number 2, as the
Agency may determine (the "Project "); and
WHEREAS, the Agency proposes to issue, in accordance
with the Agreement and the Joint Powers Act, from time to time,
in one or more installments, its notes and other evidences of
indebtedness (including renewal notes) ( "Notes ") to be outstanding
at any one time in accordance with their terms in the estimated
maximum aggregate principal amount of $300,000,000, for the
purpose of financing studies, the acquisition of options, permits,
and other preliminary costs to be incurred prior to the under-
taking of the construction or acquisition of the Project and
for the purpsoe of providing temporary financing of costs of
acquisition and construction of the Project; and
WHEREAS, the Agency proposes to issue its Revenue bonds
and evidences of indebtedness ( "Public Power Revenue Bonds ")
for the purpose of providing funds for the acquisition, con-
struction and financing of the Project; and
WHEREAS, notwithstanding the aforesaid estimated maximum
aggregate principal amount of Notes proposed to be issued by
the Agency for the Project and to be outstanding at any one
time in accordance with their terms, additional Notes may be
required to complete the financing of the Project; and
WHEREAS, the Agency has entered or will enter into one
Dr more agreements (the "Member Agreements ") with certain entities
(including two or more of the Members), pursuant to which the
entities entering into such Member Agreements with the Agency
(the "Participants ") will, in the aggregate, purchase options
and /or rights to purchase and /or receive 1008 of the capacity
and energy of the Project; and
WHEREAS, the Notes are to be renewable from time to time
and payable from proceeds of renewal Notes and the proceeds
of the Public Power Revenue Bonds and, to the extent not so
paid, may be payable from revenues of the Agency from the Project,
including payments to be made by the Participants under the
Member Agreements; and
WHEREAS, in accordance with the Joint Powers Act, the
exercise by the Agency of its power to issue the Notes is subject
to the authorization of such issuance by the Members pursuant
to Ordinance; and
WHEREAS, neither the payment of principal of the Notes
nor any part thereof nor interest thereon shall constitute a
debt, liability or obligation of the City of Alameda; nor does
this Ordinance commit the City of Alameda to take or pay for
any capacity or energy of the Project; and
WHEREAS, this City Council has authorized by Ordinance
the issuance and sale by the Agency of its Public Power Revenue
Bonds, the proceeds from the sale of which are to be used for
the acquisition, construction and financing of the Project,
including interest on such Bonds and deposits to reserves, and
to pay the principal, premium, if any, and interest on the Notes
authorized by this Ordinance when due.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE
CITY OF ALAMEDA as follows;
1. The issuance and sale by the Agency from time to
time, in one or more installments, of its Notes (including renewal
Notes) outstanding at any one time in accordance with their
terms in a maximum aggregate principal amount of $300,000,000
is hereby authorized. Notwithstanding such maximum aggregate
principal amount, the Agency is hereby authorized to issue
additional principal amounts of Notes if and to the extent required
to complete the financing of the Project. The proceeds from
the sale of the Notes hereby authorized are to be used for the
financing of costs of acquisition and construction of the Project,
including interest on the Notes. The Notes hereby authorized
are to be renewable from time to time and such Notes, and premium,
if any, and interest thereon, are to be payable from proceeds
of renewal Notes and the proceeds of Public Power Revenue Bonds
of the Agnecy and, to the extent not so paid, may be payable
from revenues of the Agency from the Project, including payments
received by the Agency from the Participants under the Member
Agreements.
2. Pursuant to Section 6547 of the Joint Powers Act,
this Ordinance is subject to the provisions for referendum pre -
scribd by Section 3751.7 of the Elections Code of the State
of California.
3. The City Clerk shall certify to the enactment of
this Ordinance and shall cause notice of the same to be published
in accordance with Section 6040.1 of the Government Code of
the State of California.
4. Sixty (60) days from and after its enactment, this
Ordinance shall take effect and be in full force, in the manner
provided by law.
THE FOREGOING ORDINANCE is approved, enacted and adopted
by the City, Council of the City of Alameda, this " day of
/1,11/ o ems 1982.
E
�G
JF Attest:
CL ��
CL
City Cle .k
Presiding icer of the Council
-3-
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 16th of November, 1982,
by the following vote to wit:
AYES: Councilmen Gorman, Sherratt, Stone and President Corica - 4.
NOES: None.
ABSENT: Councilman Diament - 1.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 17th day of November, 1982.
R� r�tcP � • � ��r�,2_ � l r. �
City C1 rk of the City of Alameda
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