California Community Choice Financing Authority Clean Energy Project Revenue Bonds (Green Bonds).

The memorandum discusses a recommendation for the City Council to adopt a resolution approving the issuance and sale of California Community Choice Financing Authority Clean Energy Project Revenue Bonds (Green Bonds) to finance a long-term supply of electricity for the City of San José. The bonds, not exceeding $1,250,000,000, will be used for a prepaid energy purchase agreement with Morgan Stanley Energy Structuring, L.L.C. The City will benefit from annual savings of at least 8% on energy costs. The memorandum outlines the financing structure, the role of various parties, and the expected savings and terms of the bonds.

Key points

• The bonds will finance a long-term supply of electricity for the City of San José.
• The total amount of bonds is not to exceed $1,250,000,000.
• The City will enter into a prepaid energy purchase agreement with Morgan Stanley Energy Structuring, L.L.C.
• The City is expected to achieve annual savings of at least 8% on energy costs.
• The financing structure includes various agreements and guarantees related to the bonds.

Limitations

• The text appears to be truncated, missing some details.
• There are unresolved placeholders and blank fields that affect the completeness of the summary.

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The source text indicates this attachment appears to be a draft document.

Appendix A provides background information on the City of San José and its community choice aggregation program, San José Clean Energy (SJCE). The City is a charter city with a council-manager government, covering approximately 180 square miles and having an estimated population of 980,000 as of January 1, 2025. SJCE was established in 2017 to provide clean energy options and local control over electricity prices. The City aims for carbon neutrality by 2030 and SJCE plans to provide increasing percentages of renewable energy by 2030, 2040, and 2050. The governance structure includes a City Council and various advisory bodies, with SJCE serving nearly 350,000 accounts within the City. Customers are automatically enrolled in SJCE, with options for renewable energy services and the ability to opt-out to return to PG&E service.

Key points

• City of San José is a charter city with a council-manager form of government.
• City covers approximately 180 square miles and has an estimated population of 980,000 as of January 1, 2025.
• San José Clean Energy (SJCE) was established in 2017 to provide clean energy and local control over electricity prices.
• City aims for carbon neutrality by 2030; SJCE plans to provide 75% renewable energy by 2030.
• SJCE serves nearly 350,000 accounts, with a mix of 92% residential and 8% non-residential customers.
• Customers are automatically enrolled in SJCE service and can opt-out to return to PG&E.

Limitations

• The document appears to be a draft, as indicated by the repeated mention of 'DRAFT' and contact information for final document inquiries.
• Some sections of the text are truncated, leading to incomplete information.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This document is a draft of a Power Supply Contract between the California Community Choice Financing Authority and the City of San Jose. It outlines the terms for the sale and purchase of energy, including definitions, execution dates, delivery periods, and various obligations of both parties. The contract includes multiple articles detailing aspects such as payment, dispute resolution, and compliance with laws. The document is marked as a draft and indicates that the final version can be obtained from the Office of the City Clerk.

Key points

• The contract is between California Community Choice Financing Authority and City of San Jose.
• It is a draft document dated November 5, 2025.
• The contract outlines the sale and purchase of energy and includes various articles on definitions, execution dates, delivery periods, and obligations.
• The final document can be requested from the Office of the City Clerk.

Limitations

• The execution date and other specific dates are placeholders and not filled in.
• Some sections of the document are truncated and not fully visible.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This document appears to be a draft of a Consolidated, Amended & Restated Custodial Agreement among several parties, including the California Community Choice Financing Authority, the City of San José, Morgan Stanley Capital Group Inc., Morgan Stanley Energy Structuring, L.L.C., and U.S. Bank Trust Company. The agreement outlines the terms for the administration of payments related to power purchase agreements and includes provisions for defined terms, appointment of a custodian, payment instructions, and account management. It references previous agreements and includes details about assigned products and payment amounts.

Key points

• The agreement consolidates, amends, and restates a previous custodial agreement dated November 4, 2024.
• Parties involved include California Community Choice Financing Authority, City of San José, Morgan Stanley Capital Group Inc., Morgan Stanley Energy Structuring, L.L.C., and U.S. Bank Trust Company.
• The agreement outlines the administration of payments to sellers under assigned power purchase agreements.
• It includes definitions for terms such as 'Annual Quantity', 'Delivered Product Payment Amount', and 'PPA Monthly Statement'.
• The custodian appointed under the agreement is U.S. Bank Trust Company, National Association.

Limitations

• The document contains unresolved placeholders such as '[____]' and '[20[_]]', which affect the completeness of the summary.
• The document is truncated, and therefore, not all sections are fully captured.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This document appears to be a draft of a Limited Assignment Agreement involving a PPA Seller, the City of San José as the PPA Buyer, and Morgan Stanley Capital Group Inc. as MSCG. The Agreement outlines the terms under which the PPA Buyer transfers certain rights and obligations related to prepaid energy transactions to MSCG for a specified Assignment Period. It includes definitions of key terms, the process for transferring rights, and the responsibilities of each party during the Assignment Period.

Key points

• The Agreement is between PPA Seller, the City of San José (PPA Buyer), and Morgan Stanley Capital Group Inc. (MSCG).
• It involves the limited assignment of rights and obligations related to prepaid energy transactions.
• MSCG will receive the Assigned Product and assume responsibility for the Delivered Product Payment Obligation during the Assignment Period.
• The document includes various definitions and terms related to the assignment process.
• The Assignment Period is defined but specific dates are placeholders.
• The Agreement remains subject to revision as indicated in the notes.

Limitations

• Specific dates for the Effective Date, Assignment Period Start Date, and Assignment Period End Date are not filled in.
• The Assigned Product and other key terms are placeholders and not specified.
• References to sections in the PPA are incomplete, affecting clarity on certain obligations.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This document is a draft of the Prepaid Clean Energy Project Administration Agreement between the California Community Choice Financing Authority (CCCFA) and the City of San José. It outlines the administration of operational matters related to a Clean Energy Project, including the financing of energy prepayments and the responsibilities of both parties regarding energy delivery and management. The agreement includes provisions for defined terms, assignment agreements, scheduling and delivery of energy, project administration fees, and limitations of liability.

Key points

• The agreement is between CCCFA and the City of San José.
• It pertains to the Clean Energy Project and the administration of related operational matters.
• CCCFA assists its members, including the City, by financing energy prepayments.
• The City is responsible for scheduling and delivery of energy under the agreement.
• There are provisions for project administration fees and reconciliation of expenses.

Limitations

• The document contains unresolved placeholders for dates and dollar amounts.
• The text indicates it is a draft.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This Letter Agreement confirms the mutual agreement between the City of San José and the California Community Choice Financing Authority regarding various energy agreements. It outlines the assignment of rights and obligations under power purchase agreements and the procurement of EPS Compliant Energy. The document includes provisions for assignment early termination and representations by each party. It appears to be a draft.

Key points

• The agreement involves the City of San José and the California Community Choice Financing Authority.
• It relates to a Power Supply Contract, a Prepaid Energy Sales Agreement, and an Energy Management Agreement.
• The document outlines the assignment of rights and obligations under power purchase agreements.
• It specifies conditions for the procurement of EPS Compliant Energy.
• There are provisions for early termination of assignments.
• Each party makes representations regarding their legal status and obligations.

Limitations

• The document contains unresolved placeholders such as [____] and [Section 3.4].
• The text is truncated and does not provide complete information.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This resolution from the City Council of San Jose approves the issuance and sale of Clean Energy Project Revenue Bonds not exceeding $1,250,000,000 to finance the acquisition of a long-term supply of electricity on a prepaid basis. The resolution outlines the authorization for city officials to execute necessary documents related to this financing, including various agreements and contracts with the California Community Choice Financing Authority and other parties involved in the project. It emphasizes the public interest in the project and sets parameters for the bond issuance and related agreements.

Key points

• Resolution approves issuance of Clean Energy Project Revenue Bonds up to $1,250,000,000.
• Bonds will finance acquisition of long-term electricity supply for San Jose on a prepaid basis.
• City Council authorizes city officials to execute necessary documents for the project.
• The resolution includes provisions for various agreements related to the financing and energy supply.
• The bonds will not be obligations of the City but limited obligations of the Issuer.

Limitations

• The document appears to be a draft, as indicated in the text.
• Specific dates for adoption and voting outcomes are not provided.
• Certain placeholders remain unfilled, such as the date of adoption and vote counts.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The document outlines the California Community Choice Financing Authority (CCCFA) Clean Energy Project Revenue Bonds for the City Council meeting on December 2, 2025. It details the background of the San José Clean Energy (SJCE) initiative, the financing structure, risks, and the documents required for council approval related to the issuance of bonds to finance a long-term supply of prepaid clean energy for the City of San José.

Key points

• SJCE supports the transition to clean energy and has 93 power purchase agreements valued at approximately $3.2 billion.
• The City was authorized to join CCCFA in November 2023, and CCCFA approved the City's associate membership in May 2024.
• CCCFA issued Clean Energy Project Revenue Bonds, Series 2024E, on November 4, 2024, for $1.24 billion.
• The City will enter into a Prepaid Energy Sales Agreement with Morgan Stanley Energy Structuring for a 30-year energy supply.
• CCCFA will issue 30-year tax-exempt bonds up to $1.25 billion, with mandatory tender after the initial term.
• Bonds are certified as Green Bonds and bondholders have no recourse to the City.
• The financing team includes various advisors and legal counsel, with Morgan Stanley as the underwriter.

Limitations

• The document contains placeholders and unresolved sections that affect the completeness of the summary.
• Specific dates for bond pricing and closing are subject to change based on market conditions.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.