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<br />procedures that should enhance the Cities' ability to appropriately exercise regulatory <br />responsibilities in the rate proceeding that Electric Delivery has agreed to file on or before July <br />1,2008; <br /> <br />WHEREAS, the Settlement Agreement calls for immediate and long-term benefits to <br />flow to all city members of the Steering Committee which in turn have indirect but positive <br />benefit to all city residents and public safety in general; and <br /> <br />WHEREAS, the Steering Committee values the benefits of settlement to Cities at <br />approximately $85 million between 2005 and 2009 and comparable value is unlikely to be <br />achieved through litigation; NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, <br />TEXAS: <br /> <br />Section 1. That the findings set out in the preamble to this resolution are hereby in all <br />things approved. <br /> <br />Section 2. That the Extension and Modification of Settlement Agreement and <br />Agreement to Resolve Outstanding Franchise Issues, both dated January 19, 2006, between the <br />Cities' Steering Committee and TXU Electric Delivery is hereby ratified. <br /> <br />Section 3. That this resolution shall be effective from and after its date of passage. <br /> <br />PASSED AND APPROVED this 13th day of February, 2006. <br /> <br /> <br />.----' <br />/' <br />I <br />..~ <br />Mayor <br /> <br />-I <br /> <br />ATTEST: <br /> <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />- ;1J. fi'7f5~.~ <br /> <br />D. Lestock, Assistant Attorney <br />