HomeMy WebLinkAboutRES 900525 - Exclude Annual PaymentRESOLUTION 90 J a
A RESOLUTION INSTRUCTING THE STAFF OF THE CITY OF
GEORGETOWN TO EXCLUDETHE ANNUAL PAYMENT OF $51544100
FROM THE "FACILITIES AND PREMISES LEASE" AOREEMENT WITH
THE LOWER: COLORADO RIVER AUTHORITY WEEK CALCULATING THE
BASE REVENUE REQUIREMENTS.
WHEREAS, the City of Georgetown, Texas (CITY owns and
operates an electrical power distribution system; and
WHEREAS, the City of Georgetown is a wholesale' power purchaser
from the Lower Colorado River Authority; and
WHEREAS, the Lower Colorado River Authority has, as a part of
Docket No. 9427 (before the PUCT Application of LORA for authority
to change rates{ proposed a "Facilities and Premises Lease"; and
WHEREAS, the City of Georgetown entered into a`"Facilities and
Premises Lease" with the Lower Colorado River Authority, rdated
September 11, 1990, for facilities and premises valued at
$61,111.00, which provides for an annual payment of $5,544; and
WHEREAS; the final order of Docket No. 9427 provided that "the
lease payments should be approved t0 the extent that the Lower
Colorado River Authority can ensure that there is no double
recovery of costs associated with the related facilities";
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GEORGETOWN, TEXAS, THAT:
Section 1. The City council adopts the recitals set forth above as
true and correct and adopted herein verbatim as if fully set forth
at length,
Section II, The City Staff is instructed to exclude the payment of
$5,544 from the revenue requirements when adjusting the retail
rates upward to recover the wholesale power costs imposed by the
Lower Colorado River Authority from Docket 9427.
Section III, The Mayor be authorized to execute, the City
Secretary to attest and forward a copy to the Lower Colorado River
Authority,
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RESOLVED this the - day of "„ 19906
Attest:
W. H. Connor, Mayor Elizabeth Gray, Qity Secretary