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WHEREAS, the Steering Committee has entered a Settlement Agreement with Oncor <br />("Attachment C") with Oncor to increase base rate revenues by $136.7 million; and <br />WHEREAS, the Executive Committee of the Steering Committee, and the Steering <br />Committee's lawyers and consultants recommend that Steering Committee members <br />approve the attached rate tariffs ("Attachment A" and "Attachment B" to this Ordinance), <br />which will increase the Company's revenue requirement by $136.7 million; and <br />WHEREAS, the attached tariffs implementing new rates are consistent with the <br />negotiated resolution reached by the Steering Committee and are just, reasonable, and in <br />the public interest; and <br />WHEREAS, it is the intention of the parties that if the City determines any rates, <br />revenues, terms and conditions, or benefits resulting from a Final Order or subsequent <br />negotiated settlement approved in any proceeding addressing the issues raised in the <br />Company's filing would be more beneficial to the City than the terms of the attached tariff, <br />then the more favorable rates, revenues, terms and conditions, or benefits shall <br />additionally accrue to the City; and <br />WHEREAS, the negotiated resolution of the Company's filing and the resulting rates <br />are, as a whole, in the public interest. <br />1VOW, THEREFORE, BE IT ORDAIIVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS, TEXAS: <br />Section 1. That the findings set forth in this Ordinance are hereby in all things <br />approved. <br />Section 2. That the City Council finds the existing rates for electric service provided <br />by Oncor are unreasonable and new tariffs, which are attached hereto and incorporated <br />herein as Attachment A and B, are just and reasonable and are hereby adopted. <br />Section 3. That Oncor shall reimburse the reasonable ratemaking expenses of the <br />Steering Committee in processing the Company's rate application. <br />Section 4. That to the extent any resolution or ordinance previously adopted by the <br />Council is inconsistent with this Ordinance, it is hereby repealed. <br />Section 5. That the meeting at which this Ordinance was approved was in all things <br />conducted in strict compliance with the Texas Open Meetings Act, Texas Government Code, <br />Chapter 551. <br />Section 6. That if any one or more sections or clauses of this Ordinance is adjudged <br />to be unconstitutional or invalid, such judgment shall not affect, impair or invalidate the <br />remaining provisions of this Ordinance and the remaining provisions of the Ordinance shall <br />be interpreted as if the offending section or clause never existed. <br />