Resolution 13175CITY OF ALAMEDA RESOLUTION NO. 13175
APPROVING PUBLIC UTILITIES BOARD ACTION AND AUTHORIZING EXECUTION,
SALE AND DELIVERY OF CERTIFICATES OF PARTICIPATION IN CERTAIN
INSTALLMENT SALE FINANCING DOCUMENTS WITH THE ALAMEDA PUBLIC
IMPROVEMENT CORPORATION IN THREE SERIES AS FOLLOWS:
I. NOT TO EXCEED $13,000,000 AGGREGATE PRINCIPAL AMOUNT OF
ELECTRIC REVENUE CERTIFICATES OF PARTICIPATION, SERIES 2000A,
FOR THE EXPANSION AND IMPROVEMENT OF THE ELECTRIC SYSTEM AND THE
REFINANCING OF OUTSTANDING INSTALLMENT SALE OBLIGATIONS OF
ALAMEDA POWER & TELECOM (BEING THE CITY OF ALAMEDA ACTING BY AND
THROUGH ITS BUREAU OF ELECTRICITY)
II. NOT TO EXCEED $40,000,000 AGGREGATE PRINCIPAL AMOUNT OF
DISTRIBUTION SYSTEM REVENUE TAXABLE CERTIFICATES OF
PARTICIPATION, SERIES 2000AT, FOR THE PARTIAL DEFEASANCE OF
CERTAIN OBLIGATIONS OF ALAMEDA POWER & TELECOM (BEING THE CITY
OF ALAMEDA ACTING BY AND THROUGH ITS BUREAU OF ELECTRICITY) WITH
RESPECT TO THE NORTHERN CALIFORNIA POWER AGENCY
III. NOT TO EXCEED $20,500,000 AGGREGATE PRINCIPAL AMOUNT OF
TELECOM SYSTEM TAXABLE REVENUE CERTIFICATES OF PARTICIPATION,
SERIES 2000B, FOR THE ACQUISITION, CONSTRUCTION, EQUIPPING AND
STARTUP OF A CITYWIDE HYBRID FIBER - OPTIC /COAXIAL TELECOM SYSTEM
WHEREAS, the Public Utilities Board of the City of Alameda
(the "Public Utilities Board ") has determined, as part of its
strategic plan to enhance customer service and revenues of
Alameda Power & Telecom (as the Bureau of Electricity of the
City of Alameda, "AP &T "), to finance, acquire, construct, equip
and start up a telecom system (the "Telecom System ") in the City
of Alameda; and
WHEREAS, the Public Utilities Board and the Alameda Public
Improvement Corporation, after feasibility studies and market
analysis, have both found that the Telecom System as proposed to
be acquired, constructed, equipped and operated, together with
AP &T's right to sell the Telecom System to SIGCORP
Communications Services and available reserves, is financially
feasible and can be managed so as to avoid any material adverse
effect on AP &T's electric business; and
WHEREAS, the Public Utilities Board has found it to be
financially advantageous to finance the Telecom System
concurrently with the partial defeasance of certain electric
system stranded costs, in the form of certain obligations of
AP&T with respect to the Northern California Power Agency, and
with the financing of certain improvements to AP&T's electric
distribution system and the refinancing of certain outstanding
installment sale obligations with respect to AP&T's transmission
facilities; and
WHEREAS, the Public Utilities Board adopted its Resolution
No. 4410 approving, authorizing and directing execution of
certain financing documents, approving installment purchase
agreements, preliminary official statements, conveyance
agreements, trust agreements and authorizing and directing
certain actions with respect thereto on December 13, 1999;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the
City of Alameda hereby ORDERS and DETERMINES that the actions taken
by the Public Utilities Board, as evidenced in Public Utilities
Board Resolution No.4410, approving, authorizing and directing
execution and delivery of documents related to the installment
sale financings be, and they are hereby, ratified, confirmed and
approved in all respects.
I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly
adopted and passed by the Council of the City of Alameda in the Special Joint City Council
and Public Improvement Corporation Meeting assembled on the 18th day of January ,
2000, by the following vote to wit:
AYES: Councilmembers Daysog, DeWitt and Johnson - 3.
NOES: Councilmember Kerr and Mayor Appezzato - 2.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said City this
19th day of January 2000.
Dune Felsch, City Clerk
City of Alameda