RES 96016 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 96-16 RESOLUTION AUTHO1HZING PARTICIPATION IN A POWER PURCHASING POOL ESTABLISHED BY THE ASSOCIATION OF BAY AR~A GOVERNMENTS (ABAG) WHEREAS, the City of Pleasanton is currently purchasing natural gas and related transportation and distribution services from an entity providing natural gas (Utility) to the City of Pleasanton under the jurisdiction of the California Public Utilities Commission (CPUC); and WHEREAS, deregulation of the natural gas industry in 1986 and CPUC Decisions Nos. 91-02-040, 94-04-027 and 95-07-048, end regulation promulgated thereunder, permit Utility customers, including local governments, to purchase natural gas and specified related support services from third parties through a "core transport agent;" and WHEREAS, bulk purchasing of natural gas has proven itself to be a legal and cost-effective means to achieve reductions in energy costs; and WItEREAS, the City of Pleasanton is a member of the Association of Bay Area Governments (ABAG); and WHEREAS, ABAG proposes to (1) form a Power Purchasing Pool Program to aggregate natural gas needs of interested ABAG members and cooperating members and (2) act as a core transport agent on behalf of such members and (3) deliver or cause to be delivered natural gas and related services (including invoicing and gas management) to such members and (4) form a Power Purchasing Pool Committee comprised of representatives from each participating member or cooperating member and grant it the power to oversee the Program; and WHEREAS, ABAG may issue short-term debt in order to finance security deposit requirements and/or cash flow deficits incurred by ABAG in operating the Power Purchasing Pool Program which debt may be secured by the assignment, encumbrance or hypothecation of the Natural Gas Sales and Aggregation Agreement between ABAG and the City of Pleasanton.