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2006-021-ORD-TXU ELECTRIC FRANCHISE
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2006-021-ORD-TXU ELECTRIC FRANCHISE
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Last modified
8/18/2006 4:36:12 PM
Creation date
5/10/2006 11:15:29 AM
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CITY CLERK
Doc Name
2006
Doc Type
Ordinance
CITY CLERK - Date
5/8/2006
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<br />will, at the sole option of the City, either be refunded or offset against the next payment due <br />from Company. Acceptance by the City of any payment due under this Section shall not be <br />deemed to be a waiver by the City of any breach of this Franchise Agreement, nor shall the <br />acceptance by the City of any such payments preclude the City from later establishing that a <br />larger amount was actually due or from collecting any balance due to the City. <br />I. Interest on late payments shall be calculated in accordance with the interest rate <br />for customer deposits established by the Public Utility Commission of Texas in accordance with <br />Texas Utilities Code Section 183.003 as amended for the time period involved. <br />1. No taxes, fees, or other payments by Company to the City, including, but not <br />limited to, ad valorem taxes, shall reduce the franchise fees payable to City hereunder, except as <br />agreed to by the City in Section 7. <br />SECTION 8. ACCOUNTING MATTERS. <br />A. Company shall keep accurate books of account at its principal office for the <br />purpose of determining the amount due to the City under this Franchise. <br />B. Pursuant to Section 33.008(e) of the Texas Utilities Code, the City may conduct <br />an audit or other inquiry in relation to a payment made by Company less than two (2) years <br />before the commencement of such audit or inquiry. The City may, if it sees fit, upon reasonable <br />notice to the Company, have the books and records of the Company examined by representatives <br />of the City to ascertain the correctness of the reports agreed to be filed herein. <br />C. The Company shall make available to the auditor during the Company's regular <br />business hours and upon reasonable notice, such personnel and records as the City may, in its <br />reasonable discretion, request in order to complete such audit, and shall make no charge to the <br />City therefore. <br />1. <br /> <br />2. <br /> <br />If as the result of any City audit, Company is refunded/credited <br />for an overpayment or pays the City for an underpayment of the <br />franchise fee, such refund/credit or payment shall be made <br />pursuant to the terms established in Sections 7.1. and 7.1. <br />If as a result of a subsequent audit, initiated within two years of <br />an audit which resulted in Company making a payment to the City <br />due to an underpayment of the franchise fee of more than 5%, <br />Company makes another payment to the City due to an <br />underpayment of the franchise fee of more than 5%, the City may <br /> <br />9 <br />
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