DEPARTMENT: Office of the City Clerk
DEPARTMENT HEAD: Leticia M. Vacek (OCC)
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Appointment to the SA Energy Acquisition Public Facility Corporation (PFC) Board of Directors
SUMMARY:
A Resolution appointing Delores Lenzy-Jones, CPS Energy Chief Financial Officer (CFO), to the SA Energy Acquisition Public Facility Corporation (PFC) Board of Directors for the remainder of an unexpired term of office to expire January 31, 2021. The PFC Board of Directors two-year term of office commenced February 1, 2019 through January 31, 2021.
BACKGROUND INFORMATION:
In Resolution No. 2007R-04-19-0455, approved on April 19, 2007, the City Council approved the creation of the PFC, which articles of incorporation and by-laws require the City Council appoint the members of the CPS Energy Board of Trustees along with the General Manager and CEO and the Chief Financial Officer of CPS Energy to the Board of the new public facility corporation. The PFC was created for the purpose of financing and acquiring electric energy and power, oil, gas, coal, and other liquid, gaseous or solid hydrocarbon fuels for use by CPS Energy in operating its generation plants and in providing service to its customers. The PFC Board of Directors serve for a term of two years.
ISSUE:
Pursuant to Resolution No. 2007R-04-19-0455, City Council appoints the members of the CPS Energy Board of Trustees along with the General Manager and CEO and the Chief Financial Officer of CPS Energy to the board of the PFC.
ALTERNATIVES:
If current PFC Board members are not reappointed, PFC bylaws approved in Resolution No. 2007R-04-19-0455 provide that current Board members continue to serve until successors are appointed.
FISCAL IMPACT:
There is no fiscal impact.
RECOMMENDATION:
The nomination of Delores Lenzy-Jones was received from CPS Energy and coordinated with the Mayor's Office, the Office of the City Attorney, and the Office of Public Utilities. The Of...
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