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ORDINANC E NO, 16 3 7 , <br />"AN ORDINANCE IMPOSING AN ADDITIONAL CHARGE ON <br />T EXAS PC?W ER & LIGHT COMPANY IN AN AM4UNT <br />EQUALING 2% OF ITS GROSS REVENUES FROM SALE <br />OF ELECTRICITY FROM INDUSTRIAL, GOVERNMENTAL, <br />AND MUNICIPAL BU5INESS IN THIS CITY. " <br />WHEREAS, by ordinance dated February 8, 1954, there was granted to <br />Texas Power & Light Company for a period of 25 years the right, privilege, <br />and franchise to use the streets, alleys, and public places of the City of <br />Paris, for the purpose of supplying electricity; and <br />WHER.EAS, said ordinance imposed an annual charge on Texas Power & <br />Light Company in a sum equal to two percent (2°jo) of its gross revenues de- <br />rived from the sale of electric energy by said Company from its residential <br />and commercial business conducted within the corporate limits of said City; <br />and <br />WHEREAS, Texas Power 8r Light Company has voluntarily offered to pay <br />a like percentage of its gross revenues derived from it.s industrial, govern- <br />mental, and municipal business conducted within such City; <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS: <br />Section 1. In addition to the charge or tax imposed by said ordinance <br />dated February 8, 1954, Tex.as Power & Light Company shall pay to the City <br />upon the date of acceptance of this ordinance the sum of $4, 359. 11 and shall <br />hereafter include, in computing its annual payments of 2% of its gross reve- <br />nues as specified in the aforesaid ordinance dated February 8, 1954, its gross <br />revenues derived from its industrial, governmental and municipal business <br />conducted within such City. <br />Section 2. This ordinance shall be effective from and after its passage. <br />PA5SED AND APPROVED this 12th day of August, 1963. <br />~ Mayo r ~ <br />ATTFST: <br />7 / <br />City Clerk <br />APPROYED AS TO FORM: <br />Cit-y Attorney.~ <br />, <br />