555 RES CITY COUNCIL PASSED THIRD AND FINAL READING IN ORD GRANTING TO TX POWER & LIGHT CO A NEW FRANCHISE

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• 0 REsawTIoN rio. 5 5 5 . WEEREAS, the City Council of the City of Paris has this day passed on third and final reading an ordinance granting to the Texas Power & Light Com- pany a new franchisep granting to said company a franchise for twenty-five (25) years from the effective date of such ordinance, which franchise provides for the payment by said company to said City of Paris of a rental charge for the use of the streetst alleys and public highways of the City of Parisp as therein set outp in the amount of two per cent (2%) of the gross revenue re- ceived by said Texas Power & Light Company frora the sale of energy from resi- dential and commercial business conducted within the City of Paris under such franchise; and, WHEREAS, on June 13, 1949, the City of Paris and said Texas Fbwer & Light Company entered into an agreement providing for the payment of a street rentalp which agreement should now be cancelled concurrent with the effective date of such new franchise because of such provision therein made for payment of rentals asaforesaid: NOW, TEEREFORE 9 BE IT RESOLVED that the Texas Fbwer & Light Company rental contract entered into between the Texas Power & Light Company and the City of Paris, Texasg dated June 13, 1949, be, and the same is hereby cancelled as of the effective date of said franchise ordinance passed and adopted this 8th day of Februaryp 19549 and said contract and agreement shall be of no fur- ther force and effect from and after such effective date of such ordinance. Passed this 8th day of Februazy, 1954. Mayor ATTES T s City Clerk.