Title
Conduct a Public Hearing to Consider/Discuss/Act on an Ordinance Granting Grayson-Collin Electric Cooperative, Inc., a Non-Exclusive Franchise to Use Public Rights-of-Way for the Purpose of Constructing and Operating an Electric Distribution System.
Summary
MEETING DATE: August 23, 2010
DEPARTMENT: Finance
CONTACT: Jennifer Fung, Executive Director of Finance
RECOMMENDED CITY COUNCIL ACTION:
• Conduct public hearing and approve the ordinance.
ITEM SUMMARY:
• This ordinance grants Grayson-Collin Electric Cooperative, Inc. (Cooperative) a non-exclusive permission to erect, construct, install and maintain an electric distribution system in, over, under, along and across the public rights-of-way within the corporate limits of the City that have been certificated to Cooperative by the Public Utility Commission subject to the terms and conditions as listed in the agreement.
• This agreement shall terminate on August 21, 2015, unless terminated earlier. The agreement may be renewed for one additional term of five years on the same terms and conditions as set forth herein or as agreed to by the parties.
BACKGROUND INFORMATION:
• The original agreement was dated August 21st, 1990, and will expire on August 21st 2010.
• The City and Cooperative mutually agree to accept the terms as listed in the ordinance which includes a 4% franchise fee, franchise payment due dates and definition of revenues.
SPECIAL CONSIDERATIONS:
• This ordinance requires three public hearings and they are scheduled on July 20, July 26 and August 17.
FINANCIAL SUMMARY: None
BOARD OR COMMISSION RECOMMENDATION: None