...Title
Authorizing the Departments of Finance and Energy to Evaluate the Feasibility of Energy Prepayment Transactions.
...Recommendations
(a) Authorize the Departments of Finance and Energy to evaluate the feasibility of reducing San José Clean Energy power purchase costs by financing energy prepayment transactions through the California Community Choice Financing Authority, a Joint Power Authority and conduit issuer of tax-exempt bonds.
(b) Adopt a resolution authorizing the Director of Finance, the Director of Energy, the Assistant Director of Finance, and the Assistant Director of Energy or their designees to join the California Community Choice Financing Authority if necessary, including execution of any required documents and the payment of membership fees under City Manager authority, subject to the appropriation of funds.
CEQA: Not a Project, File No. PP17-004, Government Funding Mechanism, or Fiscal activity with no commitment to a specific project which may result in a potentially significant physical impact on the environment. (Finance/Energy)