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7/4 <br /> ORDINANCE NO. 622 <br /> City of Mounds View fi <br /> County of Ramsey <br /> State of Minnesota <br /> An ordinance implementing a franchise fee on electric and natural gas <br /> utility companies for the operation of the utility within the City of Mounds View <br /> THE CITY OF MOUNDS VIEW ORDAINS: <br /> SECTION 1: PURPOSE <br /> Subdivision 1. <br /> The Mounds View City Council has determined that it is in the best interest of the City to <br /> impose a franchise fee on those public utility companies that provide natural gas and <br /> electrical services within the City of Mounds View. <br /> Subdivision 2: <br /> Pursuant to City Ordinance No. 517 and Ordinance No. 518, which are the Franchise <br /> Agreements ("Franchise Agreements") between the City of Mounds View(the City) and <br /> Northern States Power Company(the Company), a franchise fee of not more than four <br /> (4%) of the Company's gross operating revenues may be imposed by the City at any time <br /> during the 20 year term of the Franchise. The franchise fee is paid as full compensation <br /> for the rights to transmit and furnish electric energy for light, heat, power and import, <br /> transport, sell and distribute natural gas for heating, illuminating and other purposes as <br /> outlined in Section 2 of Ordinances 517 and 518. <br /> SECTION II. STATEMENT <br /> A franchise fee is hereby imposed on Northern States Power Company, a Minnesota <br /> Corporation, for its electrical and gas franchises granted by the City in the amount of 2.5% of <br /> Northern States Power Company's gross revenues as defined by Section 4.2 of the Franchise <br /> Agreements. <br /> SECTION III. PAYMENT <br /> Said franchise fee shall be payable to the City in accordance with the terms set forth in Section 4 <br /> of the Franchise Agreements. <br /> SECTION IV. SURCHARGE <br /> Any such supplier may add to its effective rates for the utility services on which the public utility <br /> gross earnings tax is imposed, a surcharge to reimburse such supplier for the cost of the tax. <br /> SECTION V. PROOF OF COMPANY FINANCIAL STATUS <br /> Each said company shall make each payment when due and shall furnish therewith a complete <br /> and correct statement of revenues for the period. Such company shall permit the City and its <br /> representative free access to the company's records for the purpose of verifying such statements. <br />