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File #: 20-5264   
Type: Resolution
In control: City Council A Session
On agenda: 9/17/2020
Posting Language: Resolution appointing Gary Gold, CPS Energy Interim Chief Financial Officer, to the SA Energy Acquisition PFC Board of Directors for a term ending January 31, 2021. [Tina Flores, City Clerk]
Attachments: 1. Request for agenda placement Gary Gold PFC placement September 17 2020 V4, 2. Draft Resolution, 3. Resolution 2020-09-17-0042R
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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DEPARTMENT: Office of the City Clerk


DEPARTMENT HEAD: Tina Flores, City Clerk


COUNCIL DISTRICTS IMPACTED: City-Wide


SUBJECT:

Appointing Gary Gold to the SA Energy Acquisition Public Facility Corporation (PFC) Board of Directors

SUMMARY:

A Resolution appointing Mr. Gary Gold, CPS Energy Interim Chief Financial Officer (CFO), to the PFC Board of Directors for a term commencing September 17, 2020 and ending January 31, 2021.


BACKGROUND INFORMATION:

The CPS Energy Board of Trustees is comprised of five citizens, one of whom is the Mayor. The Mayor is a voting member of the Board and is charged with keeping the City Council advised and informed of any actions, deliberations and decisions of the Board.

In Resolution No. 2007R-04-19-0455, approved on April 19, 2007, the City Council approved the creation of the PFC. The PFC's Articles of Incorporation and Bylaws require that the City Council appoint the members of the CPS Energy Board of Trustees, along with the President & CEO and the CFO of CPS Energy to the PFC Board of Directors. The PFC was created to finance and acquire 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. Members of the PFC Board serve two-year terms. A Director appointed to replace a resigning Director serves for the remainder of the predecessor's term; provided that a Director whose employment at CPS Energy concludes before expiration of his/her term on the PFC Board also concludes his/her term as a PFC Director. All PFC Directors' terms expire each January 31 of odd-numbered years.

Mr. Gary Gold was appointed Interim CFO on August 1, 2020, and the PFC Board of Directors recommended his appointment on August 31, 2020. His term on the PFC Board will begin on September 17, 2020 and end January 31, 2021, which aligns with the remaining Directors' terms.



ISSUE:

Pursuant to...

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