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WHEREAS, counsel for ACC, upon review of the Company's filing and upon consultation <br />with various consultants, recommends findings that the Company's proposal is unjustified and <br />unreasonable; NOW, THEREFORE, <br /> <br /> BE IT ORDAINED 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 ordinance are hereby in all <br />things approved. <br /> <br /> Section 2. That the Company's Statement of Intent to change gas rates within the City, <br />as part of the Company's statewide gas utility system, is found to be unreasonable because: (a) <br />TXU's requested return on equity is excessive, generating more than 86% of the requested <br />increase in rates; (b) the basis for TXU's proposed consolidations (of regional distribution systems <br />and of pipeline costs with distribution costs) has not been established; (c) the City's jurisdiction <br />to increase pipeline rates has not been established and, therefore, the proposed pipeline cost <br />increases should be disallowed; (d) revenue requirements should be reduced rather than increased; <br />and (e) the TXU filing should be den/ed pursuant to agreement with the Company; and is therefore <br />den/ed in all respects. <br /> <br /> Section 3. That the costs incurred by the City in reviewing the Company's application be <br />promptly reimbursed by the Company. <br /> <br /> Section 4. That this Ordinance shall become effective immediately from and after its <br />passage, as the law and charter in such cases provide. <br /> <br /> Section 5. That it is hereby officially found and determined that the meeting at which this <br />Ordinance is passed is open to the public as required by law and that public notice of the time, <br />place, and purpose of said meeting was given as required. <br /> <br /> Section 6. That a copy of this ordinance, constituting final action on the Company's <br />application, be forwarded to the appropriate designated representative of the Company within 10 <br />days as follows: Autry L. Warren, Director Gas Regulatory, TXU Business Services, 1601 Bryan <br />Street, Dallas, Texas 75201-3402. <br /> <br /> DULY PASSED AND APPROVED by the City Council of the City of Paris, Paris, <br />Texas, on this the 14th day of July, 2003. <br /> <br /> Curtis Fendley, Mayor <br /> <br /> <br />