HomeMy WebLinkAboutTC Res 2018-02-21 (2) RESOLUTION NO. 08-2018
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TIBURON
APPROVING THE MEMORANDUM OF UNDERSTANDING FOR THE
TRANSFER OF PG&E RULE 20A CREDITS FROM THE CITY OF ROCKLIN
WHEREAS, the Town of Tiburon is currently undergrounding Tiburon Boulevard from
Lyford Avenue to Ned's way("Project"), and is funding the Project in part with Rule 20A Credits
from PG&E.; and
WHEREAS; the Town of Tiburon has the desire to purchase and use the City of
Rocklin's available Rule 20A Credits to assist in funding the Project; and
WHEREAS, the California Public Utilities Commission and PG&E allow for Rule 20A
Credits to be transferred from one agency to another; and
WHEREAS, the City of Rocklin is willing to enter into a Memorandum of Understanding
("MOU") with the Town and transfer $438,080 of the City of Rocklin Rule 20A Credits to the
Town, in exchange for a $109,520 payment by the Town; and
WHEREAS, the Town Council for the Town of Tiburon has reviewed and understands
the terms for the transfer of credits set forth in the attached MOU;
NOW THEREFORE, the Town Council of the Town of Tiburon does resolve as follows:
Section 1. The Town Council hereby approves the MOU between the City of Rocklin
and the Town of Tiburon for the transfer of$438,080 of Rocklin's PG&E Rule 20A Credits in
exchange for a cash payment from the Town of Tiburon to the City of Rocklin in the amount of
$109,520, in substantially the form attached hereto as Exhibit "A" and incorporated herein by
reference.
Section 2. The Town Manager is hereby authorized execute the MOU with the City
of Rocklin and to take all necessary action to carry out the terms of the MOU.
Section 3. The Tow Council hereby directs that the Rule 20A credits transferred to
the Town from the City of Rocklin be used for the Project. .
PASSED AND ADOPTED at a regular meeting of the Town Council this 21" day of
February, 2018, by the following vote:
AYES: COUNCILMEMBERS: Fraser, Fredericks, Welner
NAYES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: Kulik, Thier
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Town Council Resolution No. 08-2018 02/21/2018
JIM FI2��SE A OR
TOWN F I �URON
ATTEST:
LEA STE ANI, TOWN CLERK
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Town Council Resolution No. 08-2018 02/21/2018