HomeMy WebLinkAboutResolution No. 97-08 CITY OF THE COLONY, TEXAS
RESOLUTION NO. ~q- d) P
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS
RATIFYING THE AGREEMENT REACHED BETWEEN TU ELECTRIC AND THE
STEERING COMMITTEE OF CITIES REGARDING A REFUND OF $80 MILLION;
AUTHORIZING INTERVENTION IN THE PUC DOCKET TO CONSIDER THE REFUND;
AUTHORIZING CONTINUED NEGOTIATIONS BETWEEN TU ELECTRIC AND THE
STEERING COMMITTEE TO RESOLVE FUTURE OVEREARNINGS ISSUES AND THE
APPEALS AND REMANDS ASSOCIATED WITH PUC DOCKET NOW. 9300 AND 11735
WHEREAS, the City of The Colony is a member of the Steering Committee of Cities Served by TU
Electric (Steering Committee); and
WHEREAS, the Steering Committee has negotiated with TU Electric, the PUC's General Counsel and
the Office of Public Utility Counsel (OPC), to resolve TU Electric's overearnings in 1997; and
WHEREAS, a Stipulation and Joint Application, reflecting a negotiated agreement between the Steering
Committee, TU Electric, the PUC's General Counsel and OPC for TU Electric to refund $80 million to
mtepayers in August 1997 was filed with the PUC on March 26, 1997; and
WHEREAS, the PUC will docket a proceeding to consider the Stipulation and Joint Application; and
WHEREAS, there is a need for further negotiation with TU Electric to resolve future overeamings, the
outstanding appeal of TUEC's last rote case, PUC Docket No. 11735 and the Texas Supreme Court's remand
to the PUC of certain issues from Docket No. 9300.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY OF THE COLONY, TEXAS:
Section 1. The City Council of the City of The Colony, Texas ratifies the action of the Steering
Committee in reaching an agreement with TU Electric on 1997 overeamings and specifically approves of the
Stipulation and Joint Application filed with the PUC on March 26, 1997 and of the agreement of TU Electric
to refund $80 million to mtepayers in August 1997.
Section 2. The City Council of the City of The Colony, Texas authorizes participation before the
PUC in proceedings to consider the Stipulation and Joint Application for a refund of $80 million.
Section 3. The City Council of the City of The Colony, Texas ratifies the intent of the Steering
Committee to engage in further negotiations with TU Electric to resolve future overeamings and issues related
to the appeals and remands associated with prior TU Electric rote proceedings.
PASSED AND APPROVED thisc-~9/M- day of t/~zzA~'_t~ ,1997
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ATTEST: , .
~s.~,~( ~/~. William W. Manning, Mayor ~
Patti A. Hicks, TRMC, City Secretary