Res 131-99 11/2/1999RESOLUTION NO. \3\ -C��J'
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, AUTHORIZING INTERVENTION IN AN
APPLICATION MADE BY TEXAS UTILITIES ELECTRIC COMPANY
(TXU ELECTRIC) WITH THE PUBLIC UTILITY COMMISSION ON
OCTOBER 18, 1999, FOR SECURITIZATION OF REGULATORY
ASSETS; AUTHORIZING COOPERATION WITH OTHER CITIES
SERVED BY TXU ELECTRIC; FINDING AND DETERMINING THAT
THE MEETING AT WHICH THIS RESOLUTION WAS PASSED WAS
OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls is a regulatory authority with standing to
participate in cases before the Public Utility Commission (PUC) involving an electric
utility providing service in the City under Utilities Code § §33.001 and 33.025; and,
WHEREAS, the City has previously participated with other cities in regulatory
proceedings before the PUC in matters involving the rates and charges of Texas
Utilities Electric Company (TXU Electric); and,
WHEREAS, the Steering Committee of Cities Served by TXU Electric has
coordinated cities' regulatory efforts and directed cities' interventions in ratemaking
matters at the PUC for a number of years; and,
WHEREAS, TXU Electric filed on October 18, 1999, an application with the PUC
to securitize regulatory assets pursuant to Senate Bill 7 that became effective on
September 1, 1999; and,
WHEREAS, securitization will lead to the development of a rate that will be
collected from future ratepayers; and,
WHEREAS, the charges resulting from securitization may adversely impact the
development of retail competition.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS:
SECTION 1. The City will intervene in PUC Docket No. 21527, TXU Electric's
application to securitize $1.6 billion in regulatory assets.
SECTION 2. The City will cooperate with other cities under the direction of the
Steering Committee of Cities Served by TXU Electric in proceedings before the PUC
and in any appeals of administrative agency determinations related to securitization of
TXU Electric's regulatory assets.
SECTION 3. A copy of this resolution shall be sent to Jay Doegey, City Attorney
for the City of Arlington as Chairman of the TXU Cities' Steering Committee.
SECTION 4. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required by law.
PASSED AND APPROVED this the 2nd day of November 1999.
MAYOR
ATTEST:
City Clerk