HomeMy WebLinkAboutReso 50-1998CITY
RESOLUTION NO. 50-98
COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING A RETAIL SUPPORT SERVICES
AGREEMENT AND FINANCIAL ASSURANCES AGREEMENT
BETWEEN THE CITY OF SOUTH SAN FRANCISCO AND FIRST
POINT CALIFORNIA INCORPORATED, A WHOLESALE POWER
PURCHASE AGREEMENT BETWEEN THE CITY OF SOUTH SAN
FRANCISCO AND ENRON CORPORATION, AND ACCEPTING A
CORPORATE GUARANTEE FROM ENRON CORPORATION
WHEREAS, the City Council of the City of South San Francisco, on May 28, 1997, approved a
Municipal Utility Services Agreement between First Point California Incorporated and the City of South
San Francisco for the provision of alternative energy services within South San Francisco; and
WHEREAS, the Municipal Utility Services Agreement anticipated the preparation and execution
of subsequent implementing agreements; and
WHEREAS, said Agreements have now been prepared.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco as follows:
1. The Retail Support Services Agreement between the City of South San Francisco and
First Point California, Incorporated is hereby approved.
2. The Finance Assurances Agreement between the City of South San Francisco and First
Point California Incorporated is hereby approved.
3. The Wholesale Power Purchase Agreement between the City of South San Francisco and
Enron Corporation is hereby approved.
guarantee.
The City of South San Francisco hereby accepts the Enron Corporation corporate
5. The City Manager is authorized to execute the above agreements on behalf of the City of
South San Francisco, and is further authorized to enter into subsequent agreements necessary to
implement the agreements identified above, and to provide services as a municipal aggregator of electric
power services to the extent that such agreements are consistent with the agreements listed above, and do
not mandate any obligations upon the City which are not fully assumed by First Point California and
guaranteed by the Enron Corporation corporate guarantee.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the City
Council of the City of South San Francisco at a regul ar meeting held on the 22nd day of
^prJ l , 1998 by the following vote:
AYES: Councilmembers James L. Datzman, Joseph A.
Matsumoto and Mayor Eugene R. Mullin
NOES: None
ABSTAIN: None
ABSENT:
Councilmember John R. Penna
ATTEST:
J:\WPDXNINRSW'x405\01X~.ESOVkPR98~FIRSTPT.RES
Fernekes, Karyl
City