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Item No. 14 <br />memorandum <br />TO: City Council <br />John Godwin, City Manager <br />FROM: Gene Anderson, Finance Director <br />SUBJECT: ONCOR FRANCHISEAGREEMENT <br />DATE: October 18, 2016 <br />BACKGROUND: The City of Paris has historically granted Oncor Electric Delivery Company, <br />LLC or its predecessors a franchise to provide the delivery of electricity to residents and <br />businesses located within the City by operating in City rights -of -way. <br />STATUS OF ISSUE: The most recent franchise agreement with Oncor Electric Delivery <br />Company expired June 30, 2016 and an extension was approved by the City Council through <br />September 30, 2016. The staff has been in negotiations with Oncor for a new franchise <br />agreement, but the agreement was only completed September 15th. A new extension agreement <br />was presented for the first reading and approved at the September 26th Council meeting and the <br />second reading and approval took place at the October loth Council meeting. This is the third <br />and final reading. <br />BUDGET: This franchise produces approximately $1,350,000 in revenue annually. <br />RECOMMENDATION: Approve the Ordinance granting Oncor Electric a franchise agreement. <br />