Agmt 2004 ABAG Power - Laserfiche WebLink

Home

AGREEMENT between ABAG POWER and City of San Leandro to Wind Up Electric Program This Agreement between ABAG Publicly Owned Energy Resources (ABAG POWER), a joint exercise of powers agency created under the Califomia Joint Powers Act (California Government Code §§6500 et seq.), and City of San Leandro (City), is made effective RECITALS A. The City became a signatory to the Joint Powers Agreement creating ABAG POWER (JPA) (Attachment A, Exhibit 1) and a Member of ABAG POWER. B. ABAG POWER has been, and continues to be, staffed by employees of the Association of Bay Area Governments (ABAG). C. The City and ABAG POWER entered into the Direct Access Electric Aggregation Agreement (DA Agreement) (a form of the DA Agreement is at Attachment A, Exhibit 2). Under the DA Agreement, the City was a participant in the direct access electric aggregation program (E1_ectric Program) until the Electric Program v:=as suspended effective June 30, 2001 (the Electric Program is described in more detail in Attachment B). D. During the operation of the Electric Program and pursuant to the DA Agreement, each Member was obligated to pay, and did pay, to ABAG POWER a proportionate share of Electric Program costs and Working Capital needs (Electric Program costs and Working Capital needs are described in more detail in Attachment B). E. Upon suspension of the Electric Program, ABAG POWER retained funds (previously paid by the Members as described in paragraph D) to pay (1) identified potential Electric Program liabilities, (2) the costs of winding up the Electric Program, and (3) the costs of marshalling assets (amounts owed to ABAG POWER and Members) (liabilities, assets and costs are described in more detail in Attachments B and C). F. ABAG POWER has determined that it cannot, within a reasonable tirneframe, (1) pay or eliminate certain potential liabilities, (2) marshal certain assets, or (3) eliminate identified potential liabilities associated with a major asset.