HomeMy WebLinkAboutCouncil Resolution 1393 BRESOLUTION NO. C 3 Ck
A RESOLUTION ALLOCATING PACIFCORP ELECTRIC FRANCHISE FEES
TO THE STREET FUND FOR STREET LIGHT EXPENSE
RECITALS:
A. In December zoic City Council passed Resolution 1319 approving a 10 year electric utility
franchise agreement with PacifCorp and increased the franchise fee from 5% to 60/6.
B. Council by motion designated the additional 1% of electric franchise revenue to the Street
Fund to "offset current street light electrical generation costs of $145,000 annually".
C. Street Fund expenses for street light utilities are considerably more than the i%currently
allocated.
D. To fully offset the street light expense and therefore relieve funds needed for street repairs
and projects, the allocation of electrical franchise revenues shall be revised as stated in
Section 1 below.
THE CITY OF CENTRAL POINT RESOLVES AS FOLLOWS:
Section is
The General Fund electric franchise revenue allocation to the Street Fund shall be to cover the cost of
street light expense up to and not to exceed $175,000 per fiscal year.
Section z.
This new allocation will become effective on July 1, 2014. `�i�
Passed by the Council and signed by me in authentication of its passage this � day of
Hank Williams, Mayor
ATTEST
Deanna Casey, City Recor