HomeMy WebLinkAboutCity Council Resolution 04-049RESOLUTION NO. 04-049
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SARATOGA AND ABAG POWER TO WIND UP THE
ELECTRIC PROGRAM
WHEREAS, the City of Saratoga was a member of the ABAG POWER Electric Aggregation
Program; and
WHEREAS, ABAG POWER Electric Aggregation Program was suspended on June 30, 2001;
and
WHEREAS, ABAG POWER has retained certain funds owed to City of Saratoga as an offset to
certain risks and potential liabilities that would otherwise pass to the agency; and
WHEREAS, ABAG POWER has received authorization from its Board of Directors to wind up the
program and distribute remaining funds to members, while at the same time passing any remaining risk
to members as well.
NOW, THEREFORE, that the City Council of the City of Saratoga hereby authorizes the execution
and delivery of the Electric Program Wind Up Agreement.
The above and foregoing resolution was passed and adopted at an adjourned meeting of the
Saratoga City Council held on the 2nd day of June, 2004 by the following vote:
AYES: Councilmember Norman Kline, Vice Mayor Kathleen King,
Mayor Ann Waltonsmith
NOES: None
ABSENT: Councilmembers Stan Bogosian, Nick Streit
ABSTAIN: None ~~ ~~G~~ ~~
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Ann Waltonsmith, Mayor
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