December 11, 2024 The Honorable City Council City of Los Angeles
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On December 11, 2024, the Los Angeles City Council considered a proposal to approve Transmission Service Agreements with Open Mountain Energy, LLC for Firm Point-To-Point Transmission Service under DWP Nos. BP 22-007, BP 22-019, and BP 23-002. The resolution was previously adopted by the Board of Water and Power Commissioners on December 10, 2024, and submitted to the City Council pursuant to Charter Section 674. The proposal included supporting documentation including a board letter, resolution, transmission service agreements, an ordinance, and a City Administrative Officer report.
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This ordinance amends the Los Angeles Administrative Code to consolidate multiple debt service reserve funds into a single Wastewater System Revenue Bonds Debt Service Reserve Fund, aligning with the terms outlined in the Wastewater System General Resolution adopted in 1987. The consolidated fund will provide security for all senior lien bonds issued under the Wastewater System. The ordinance was passed by the Los Angeles City Council on July 11, 2008, and approved by the City Attorney.
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