CC Resolution No. 04-318
RESOLUTION NO. 04-318
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING EXECUTION AND DELIVERY OF THE ELECTRIC PROGRAM
WIND UP AGREEMENT WITH ABAG POWER
WHEREAS, the City was a member of the Association of Bay Area Governments (ABAG)
POWER Electric Aggregation Program; and
WHEREAS, the ABAG POWER Electric Aggregation Program was suspended on June
30,2001; and
WHEREAS, ABAG POWER has retained certain funds owed to City 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, BE IT RESOLVED, that the City Council of the City of Cupertino
hereby authorizes the execution and delivery ofthe Electric Program Wind Up Agreement.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 17th day of May 2004, by the following vote:
Vote
Members 2fthe Q!y Council
AYES:
NOES:
ABSENT:
ABSTAIN:
Kwok, Lowenthal, Sandoval, Wang
None
James
None
ATTEST:
.~~
City Clerk
APãVED
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