Ordinance No. _____, Series 2016
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AN ORDINANCE AUTHORIZING LOUISVILLE METRO GOVERNMENT TO ACCEPT THE BID SUBMITTED BY LOUISVILLE GAS & ELECTRIC AND SIGN A GAS FRANCHISE AGREEMENT AS SUBMITTED. (AS AMENDED)
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SPONSORED BY: COUNCIL MEMBERS KRAMER, BLACKWELL, WOOLRIDGE, DOWNARD, WELCH, STUCKEL, YATES, BENSON, JAMES AND PARKER
WHEREAS, on May 26, 2016, Metro Council authorized Louisville Metro Government to advertise a gas franchise bid;
WHEREAS, Metro Council set the terms and conditions of the franchise bid as a 5 year renewable agreement, totally not more than 20 years, and with a franchise fee of no greater than 2 3.0% of gross receipts within the franchise area;
WHEREAS, Louisville Gas & Electric submitted a bid responsive to such terms and conditions; and
WHEREAS, the attached gas franchise agreement contains the gas franchise fee in effect at the time of the agreement that may be modified throughout the term of the agreement.
BE IT ORDAINED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT ("METRO COUNCIL") AS FOLLOWS:
SECTION I: Louisville Metro Government advertised and received a bid from Louisville Gas & Electric Company for a gas franchise agreement.
SECTON II: Louisville Metro Council hereby makes payment of the gas franchise fee contingent upon the final order, including any appeals therefrom, in an adjudication of the Company's method of recovery of the franchise fee. Should the adjudication and any appeals therefrom, conclude that the franchise fee should be recovered from the Company's ratepayers as a line item on the bills of customers only in the franchise area, the amount of the fee will automatically revert to zero and no fee will be due from the Company.
SECTION III: Louisville Metro Council authorizes Louisville Metro Government to enter into the attached gas franchise agreement with Louisville Gas & Electric Company.
SECTION IV: This Ordinance shall ta...
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