Res 010-95 1/17/1995RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, EXTENDING THE EXISTING STREET AND ALLEY
RENTAL AGREEMENT BETWEEN THE CITY AND TEXAS UTILITIES
ELECTRIC COMPANY FOR A PERIOD OF ONE YEAR; PROVIDING,
FOR ACCEPTANCE BY TEXAS UTILITIES ELECTRIC COMPANY;
FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS
RESOLUTION WAS DISCUSSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS,, the City and Texas Electric Service Company, the
predecessor to Texas Utilities Electric Company, entered into a
street rental agreement on the 8th day of February, 1965, whereby
said electric company agreed to pay the City of Wichita Falls
three (3%) percent of its gross revenues during the preceding
calendar year from the sale of electricity within said city as
consideration for the use and occupancy of the City's streets,
alleys, highways, easements, parks and other public ways; and,
WHEREAS, said agreement was amended on July 20, 1993,
pursuant to Resolution 103-93, to change the street rental
consideration from three (3%) percent of said TU Electric
Company's gross receipts from the sale of electrical power to
four (0) percent; and,
WHEREAS, said street rental agreement, as amended, is
scheduled to terminate February 8, 1995, unless the City and
Texas Utilities Electric Company agree to extend said agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WICHITA FALLS, TEXAS:
SECTION 1. That all of the above recitals and preambles are
found to be true and correct and made a part hereof for all
purposes.
SECTION 2. That the street rental agreement executed by and
between the City of Wichita Falls and Texas Electric Service
Company, the predecessor to Texas Utilities Electric Company, as
amended by Resolution 103-93, is hereby extended for a period of
one year from and after February 8, 1995.
SECTION 3. That this resolution shall take effect from and
after its final passage and TU Electric Company's acceptance.
Texas Utilities Electric Company shall, within 15 days of passage
of this resolution, file an acceptance of this resolution in the
Office of the City Clerk, in substantially the following form:
"To the Honorable Mayor and City Council:
Texas Utilities Electric Company (TU Electric
Company), acting by and through its
undersigned authorized officer, hereby
accepts on this the day of January,
1995, Resolution Number , amending
the current street and alley rental agreement
so as to extend such agreement for a period
of one year from February 8, 1995.
TEXAS UTILITIES ELECTRIC COMPANY
By:
Senior Vice - President"
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 17th day of January, 1995.
112 h L %J n
ATTEST:
Oki
City Clerk