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ORDINANCE NO. 853
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF UKIAH
AUTHORIZING THE TRANSMISSION AGENCY OF NORTHERN
CALIFORNIA TO ISSUE REVENUE BONDS, NOTES AND OTHER
EVIDENCES OF INDEBTEDNESS
The City Council of the City of Ukiah does ordain as follows:
Section 1. The Transmission Agency of Northern California (the "Agency")
organized under that certain Joint Powers Agreement dated December 10, 1984,
to which this City is a party, is hereby authorized to issue revenue bonds,
notes or any other evidences of indebtedness and to renew all of the same
(hereinafter referred to as "Indebtedness") payable from the revenues of the
Agency unless paid from the proceeds of Indebtedness, pursuant to the
provisions of Article 2 (commencing with Section 6540) Chapter 5, Division 7,
Title 1 of the Government Code of the State of California (the "Act") in a
maximum amount of twenty million dollars ($20,000,000) for the project
described in Section 2 hereof, provided that, notwithstanding the statement of
such maximum amount, the Agency is also authorized by this Ordinance to issue
the Indebtedness in amounts which may exceed such estimate without further
authorization under this Ordinance if and to the extent such additional
indebtedness shall be required to complete the financing of the project
described in Section 2 hereof.
Section 2. The project to be funded by the Indebtedness hereby
authorized is comprised of (a) feasibility and planning studies for possible
future action by the Agency concerning the proposed California-Oregon
Transmission Project; and )b) repayment of the $3,500,000 Promissory Note'
issued by the Agency on June 21, 1985 for the purpose of financing such
feasibility and planning studies.
Section 3. The anticipated sources of revenue for the payment of the
Indebtedness herein authorized to be issued by the Agency are revenues derived
from payments from members of the Agency and proceeds of Indebtedness issued
in connection with the financing of the project.
Section 4. Neither the payment of principal of the Indebtedness nor any
part thereof nor interest thereon shall constitute a debt, liability or
obligation of this City.
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Section 5. This Ordinance is subject to the provisions of referendum
prescribed by Section 3751.7 of the Elections Code of the State of California.
Subject to the foregoing, this Ordinance shall take effect and be in force
sixty (60) days from the date of its adoption.
Section 6. The City Clerk is hereby directed to cause this Ordinance to
be published after its adoption, as provided by law, in a newspaper of general
circulation within the City and shall also do other things required to cause
notice of the adoption of this Ordinance to be published in the manner
required by Section 6040.1 of the Government Code of the State of California.
I HEREBY CERTIFY that the foregoing Ordinance was introduced and read at
a regular meeting of' the City Council of the City of Ukiah on the 2nd day
of October , 1985, and was duly read and adopted on the 16th day of
October , 1985, at an adjourned regular meeting of the City Council by
the following roll call vote:
AYES: Councilmembers Henderson, Kier, Hickey, Kelley and Mayor Myers
NOES: None
ABSENT: None
