RESOLUTION No. 36375

Authorize the City Attorney to file appeal of Oregon Public Utility Commission determination on the application of Portland General Electric for authority to issue common stock and for Stephen Forbes Cooper, LLC to exercise substantial influence over Portland General Electric (Resolution)

WHEREAS, on December 14, 2005, the Oregon Public Utility Commission approved an application from Portland General Electric for authority to issue 62,500,000 shares of new common stock, together with an application from Stephen Forbes Cooper, LLC for authority to exercise substantial influence over the affairs and policies of Portland General Electric; and,

WHEREAS, PGE provides electricity services to most of the residences and businesses within the City of Portland, under an exclusively allocated service territory approved by the Oregon Public Utility Commission; and,

WHEREAS, the City Charter vests the Council with responsibility for protecting the public welfare of residents within the City of Portland; and,

WHEREAS, in the course of participating in the Commission’s review of PGE and Cooper’s applications, the City identified significant issues regarding potential impacts upon PGE’s rates, services and other matters for its customers within Portland, and the City believes that the Commission’s Order did not adequately address these issues;

NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of Portland, that the City Attorney is hereby authorized and directed to seek judicial review of the Commission’s order approving PGE and Cooper’s applications, and such subsequent proceedings as may occur, to present the City’s views and protect its interests and the interests of its citizens as may be necessary.

BACKING SHEET INFORMATION

AGENDA NO. 159-2006

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 36375