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2 <br />a <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23, <br />24 <br />25 <br />26 <br />27 <br />28 <br />(- rY Arrow n's omcE <br />3900 MAINSTREEr <br />RnTitsim CA 92522 <br />(951 ) 826.5567 <br />RESOLUTION NO. 2006-03 <br />A RESOLUTION OF THE BOARD OF PUBLIC UTILITIES OF THE CITY <br />OF RIVERSIDE, CALIFORNIA, (1) ESTABLISHING INCREASES IN THE <br />ELECTRIC RATES OF THE CITY'S ELECTRIC UTILITY FOR THREE <br />YEARS EFFECTIVE JANUARY 1, 2007, 2008 AND 2009; (2) ADOPTING <br />REVISED ELECTRIC AND WATER RULES NO. 5 AND ELECTRIC AND <br />WATER APPENDICES A FOR THE IMPOSITION OF CERTAIN LATE <br />PAYMENT PENALTIES; (3) MAKING RELATED FINDINGS OF FACT; <br />AND (4) RECOMMENDING CITY COUNCIL APPROVAL THEREOF <br />WHEREAS, the City of Riverside ("City") by and through its Public Utilities Department <br />("RPU") is obligated to (1) serve its electric customers safe, reliable and equitably priced <br />water, (2) operate its Electric Utility in an efficient and economical manner, and (3) operate, <br />maintain and preserve its Electric Utility in good repair and working order; and <br />WHEREAS, RPU is responsible for operating the Electric Utility in such a <br />manner that revenues from the sale of electricity shall at least equal the costs of <br />operation, including all maintenance and operating, administrative and general, debt <br />service, capital improvements, tax -related payments and other costs incurred in <br />complying with prudent utility business practices; and <br />WHEREAS, RPU provides service to over 104,000 customers, covering almost 80 square <br />miles, and is the sixth largest customer -owned utility in California; and <br />WHEREAS, RPU staff has reviewed and investigated the long-term supply, capital and <br />infrastructure needs of the Electric Utility to deliver the reliability and avoid rolling blackouts in <br />the near future, as further described herein; and <br />Transmission Constraints <br />WHEREAS, all external power to serve Riverside customers comes from the state <br />transmission grid through a single point of interconnection via the Vista Substation, which has a <br />capacity of 560 megawatts (MW); and <br />1 <br />