HomeMy WebLinkAboutMinutes - January 13, 1997 - CCCITY OF AZUSA
MINUTES OF THE CITY COUNCIL
ADJOURNED REGULAR MEETING
JANUARY .13, 1997 - 6:30 P.M.
The City Council of the City of Azusa met in adjourned regular session at the above date
and time in the Light and Water Conference Room, 729 N. Azusa, Avenue.
Mayor Alexander called the meeting to order.
ROLL CALL
PRESENT: COUNCILMLMBL'RS:
ABSENT: COUNCILMEMBERS:
HARDISON, BEEBE,
ALEXANDER, MADRID
NONE
Call to order
Invocation
NARANJO, Roll Call
Also Present
ALSO PRESENT:
City Administrator, Chief of Police Broderick, Utilities Director fisu, Finance Director
Craig, Electrical Engineer Langit, Integrated Resource Manager Tang, Electric Operations
Manager Ramirez, Assistant City Clerk Toscano.
Utilities Director Hsu opened the workshop presentation by outlining the plan, proposed L Hsu opened
by Staff, to provide the City with the means by which to successfully compete in the wk/shop AB
environment of utilities deregulation, facing all utilities providers, as the result of AB 1890 1890
which was signed into law in September, by Governor Wilson.
Manager of integrated Resources Tang Followed by presenting, in detail, the strategic Tang presented
plan, which included four key elements, as follows: strategic plan re
AB 1890
1. To set aside six million dollars from utility operating reserves, and interest
concerning
earned, towards the future payments of generation debts.
stabilization
fund for
2. To set aside annual electric utility operating cost savings, in the next five fiscal
stranded
years, starting in fiscal year 96/97, towards the future payments of generation
investment
debts.
within the
Electric Fund
3. No Anticipated retail rate increase through fiscal years 2001/2002, excluding
public benefit program mandated by AB 1890.
4. Targeting an average retail rate at 5% lower than Edison's average retail rate
commencing on fiscal year 2002/2003.
During, and following the presentation, Mr. Tang answered questions from the audience
and Council, concerning the plan.
Director I-Isu closed the presentation by assuring Council that adoption of the proposed
ordinance and resolution would not prevent any adjustments, or amendments which may
be required in the future. He further stated that this plan is an aggressive one which will
adequately provide the City with the means by which to successfully compete with all
other utilities providers.
Mayor Alexander offered an Ordinance entitled:
AN ORDINANCE OF TI IF, CITY OF AZUSA, CALIFORNIA, AMENDING ARTICLE Ord re rate
11 OF CHAPTER 78 OF THE AZUSA MUNICIPAL CODE BY ADDING A NEW stabilization
SECTION 7840 CONCERNING A RATE STABILIZATION FUND FOR STRANDED
INVESTMENT WITIIIN T14E ELECTRIC FUND.
It was then moved by Mayor Alexander, seconded by Councilmember Naranjo and
' unanimously carried by roll call vote to waive further reading and introduce proposed
ordinance.
Mayor Alexander offered a Resolution entitled:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA, CALIFORNIA, Reso No. 97-05
AUTHORi7_ING THE TRANSFER OF SIX MILLION DOLLARS FROM THE re transfer of
ELECTRIC FUND'S UNRESTRICTED RESERVE TO THE RESERVE FOR finds from
STRANDED INVESTMENT AND SETTING ASIDE ANNUAL ELECTRIC unrestricted
OPERATING NET INCOME FOR STRANDED INVESTMENT. reserve
Move by Mayor Alexander, seconded by Councilmember Naranjo to waive further reading
and adopt. Resolution passed and adopted by the following vote of the Council.
AYES: COUNCILMEMBER:
NOES: COUNCILMEMBER:
ABSENT: COUNCILMEMBER:
HARDISON, MADRID, NARANJO,
BEEBE, ALEXANDER
NONE
NONE
Moved by Mayor Alexander, seconded by Councilmember Hardison and unanimously Adjourn
carried by roll call vote to adjourn the meeting to January 21, 1997 at the Azusa Library
Auditorium at 6:30 p.m. in order to conduct a meeting with State Historic Preservation
Officer, Cherilyn E. Widell.
TIME OF ADJOURNMENT 7:51 P.M.
NEXT RESOLUTION NO. 97-C6
' NEXT ORDINANCE NO. 97-01