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1973 Council Ordinances
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1973 Council Ordinances
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Last modified
9/24/2019 11:09:57 AM
Creation date
3/22/2019 11:42:17 AM
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City Council
Council Document Type
Ordinances
Council Meeting Type
Regular
Ordinance Title
Granting Franchise to Northern States Power Company
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shall be credited or debited to an account designated the <br />"Stabilization Reserve Account". <br />Subd. 2. Any credit balance in said account shall be <br />credited monthly with interest computed at the current prime <br />interest rate. <br />Subd. 3. All or part of any debit or credit <br />balance in said account may be amortized over not more than two <br />years to balance earnings and to minimize fluctuations <br />and stabilize rates in the Metro Area. By agreement of <br />the Executive Committee and Company all or part of any <br />debit or credit balance in said account may be amortized <br />over more than two years to balance earnings and to <br />minimize fluctuations and stabilize rates in the Metro <br />Area. <br />Subd. 4. Any credit balance in the Stabilization <br />Reserve Account shall not be used to benefit customers <br />located in Municipalities where rates lower than the Metro <br />Area Rates were charged in the period during which such <br />credit accrued. <br />Subd. 5. Any balance in said account at termination <br />of the rate -making process in the Metro Area provided for in <br />this franchise shall be promptly refunded or otherwise <br />recognized for customers' benefit. <br />Section 16. RESERVE FOR DEPRECIATION AND <br />AMORTIZATION OF UTILITY PLANT. Subdivision 1. The Company's <br />22 <br />
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