Res 068-97 4/15/1997RESOLUTION NO. 6k "97
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, 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 NOS. 9300 AND 11735;
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 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 ratepayers 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 need for further negotiation with TU Electric to resolve
future overearnings, the outstanding appeal of TUEC's last rate 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 RESOLVED BY THE CITY COUNCIL OF
THE CITY OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The City Council of the City of Wichita Falls ratifies the
action of the Steering Committee in reaching an agreement with TU Electric on
1997 overearnings 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 ratepayers in August 1997.
SECTION 2. The City Council of the City of Wichita Falls 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 Wichita Falls ratifies the
intent of the Steering Committee to engage in further negotiations with TU Electric
to resolve future overearnings and issues related to the appeals and remands
associated with prior TU Electric rate proceedings.
SECTION 4. It is hereby 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 15th day of April, 1997.
ATTEST:
ity Clerk
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ATTEST:
ity Clerk