HomeMy WebLinkAboutCC Reso No 2018-027 Amending Resolution 2017-113 Termination Fee to Proposed Power Purchase Agreement (SRCEA)RESOLUTION NO. 2018-027
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE ELSINORE
AND AS A MEMBER OF THE SOUTHWEST RIVERSIDE COUNTY ENERGY
AUTHORITY (SRCEA), AMENDING RESOLUTION 2017-113 TO PROVIDE THAT ALL
OF THE APPROVALS AND AUTHORIZATIONS SET FORTH IN RESOLUTION 2017-
113 SHALL INCLUDE A REVISED TERMINATION FEE TO THE PROPOSED POWER
PURCHASE AGREEMENT
Whereas, the City Council (Council) of the City of Lake Elsinore (City) has previously authorized
the formation of the Southwest Riverside County Energy Authority (SRCEA), a joint exercise of
powers authority duly organized and existing under and pursuant to that certain Joint Powers
Agreement by and between the City of Lake Elsinore (City) and the City of Temecula, under the
provisions of Articles 1 through 4 (commencing with Section 6500) of Chapter 5 of Division 7 of
Title 1 (commencing with Section 6500) of the California Government Code (Act); and,
Whereas, the Council has, through its adoption of Resolution No. 2017-113 on October 10, 2017,
previously authorized its representatives to the SRCEA to approve and authorize the execution
and delivery of certain agreements, namely a Solar Power Purchase Agreement and documents
related thereto (Original Agreements), and,
Whereas, following such authorization, SMER Research 1 notified the City that the termination
fee as described in Exhibit C to the proposed Solar Power Purchase Agreement (Sublease
Area 2, Lake Elsinore) is not correct and has requested that the City approve the revised
Termination Fee.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES HEREBY
RESOLVE AS FOLLOWS:
Section 1. Amendment to Resolution No. 2017-113. Resolution No. 2017-113 is hereby
amended to provide that all of the approvals and authorizations set forth in Resolution No.
2017-113 shall include the revised Termination Fee of $4.21 million in year 1 diminishing over
the 20 year term of the Power Purchase Agreement (Subarea 2, Lake Elsinore) as described
on a revised Exhibit C to the proposed Power Purchase Agreement (Subarea 2, Lake
Elsinore), which Exhibit C is attached hereto as Attachment A and incorporated herein as
though set forth in full.
Section 2. No Other Changes to Resolution. Except as specifically provided in this Resolution,
all other terms and provisions of Resolution No. 2017-113 shall remain in full force and effect
Section 3. This Resolution shall take effect from immediately upon its adoption
Passed and Adopted on this 13th day of February 2018.
CC Reso. No. 2018-027
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Susan M. Domen, MMC
City Clerk
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Susan M. Domen, MMC, City Clerk of the City of Lake Elsinore, California, hereby certify that
Resolution No. 2018- 027 was adopted by the City Council of the City of Lake Elsinore, California,
at the Regular meeting of February 13, 2018, and that the same was adopted by the following
vote:
AYES: Council Members Hickman, Magee and Tisdale; Mayor Pro -Tem Manos and Mayor Johnson
NOES: None
ABSENT: None
ABSTAIN: None
Susan M. Domen, MMC
City Clerk