06-C Settlement Agreement TXU - Laserfiche WebLink

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WHEREAS, Electric Delivery has committed to the Steering Committee during the period of rate case abatement to share information on certain company operations and procedures that should enhance the Cities' ability to appropriately exercise regulatory responsibilities in the rate proceeding that Electric Delivery has agreed to file on or before July I, 2008; WHEREAS, the Settlement Agreement calls for immediate and long-term benefits to flow to all city members of the Steering Committee which in turn have indirect but positive benefit to all city residents and public safety in general; and WHEREAS, the Steering Committee values the benefits of settlement to Cities at approximately $85 million between 2005 and 2009 and comparable value is unlikely to be achieved through litigation; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the Extension and Modification of Settlement Agreement and Agreement to Resolve Outstanding Franchise Issues, both dated January 19, 2006, between the Cities' Steering Committee and TXU Electric Delivery is hereby ratified. Section 3. That this resolution shall be effective from and after its date of passage. PASSED AND APPROVED this 13th day of February, 2006. Curtis Fendley, Mayor ATTEST: Janice Ellis, City Clerk APPROVED AS TO FORM: John D. Lestock, Assistant Attorney r"