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Title:
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UPDATE ON THE DECOMMISSIONING STATUS OF SAN ONOFRE NUCLEAR GENERATION STATION, USE OF SETTLEMENTS AND COST RECOVERIES OF $11,244,000 TO PARTIALLY DEFEASE EXISTING DEBT, RETENTION OF FINANCE TEAM FOR DEBT DEFEASANCE TRANSACTION, AND TRANSFER OF $11,244,000 FROM UNDESIGNATED RESERVES TO A BOND DEFEASANCE DESIGNATED RESERVE
That the Board of Public Utilities recommend that the City Council:
1. Receive and file the update on the status of the decommissioning of San Onofre Nuclear Generation Station;
2. Authorize the use of settlements and cost recoveries received of $11,244,000 to partially defease existing debt;
3. Retain the various financing team members for the debt defeasance transaction, as outlined in the report below;
4. Authorize the City Manager, or his delegate, to execute individual agreements with each financing team member that will be negotiated closer to the actual defeasance of the bonds, for not to exceed $65,000; and
5. Establish a bond defeasa...
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Attachments:
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1. Report, 2. Presentation
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