Laserfiche WebLink
<br />Item No: 7.D. <br />Meeting Date: August 25, 2014 <br />Type of Business: Council Business <br />Administrator Review: ____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Public Hearing, Introduction, and First Reading of <br />Ordinance 892, an Ordinance Continuing a Franchise <br />Fee on Xcel Energy Electric and Natural Gas Operations <br />within the City of Mounds View <br /> <br />Attached is an ordinance to receive a public hearing, introduction, and first reading. The <br />second reading and adoption will be on Monday, September 8, 2014. <br /> <br />This ordinance continues the agreement with Xcel Energy under which Xcel Energy will <br />collect a franchise fee in the amount of 4% of Xcel’s electric and natural gas gross <br />operating revenues for services within the City of Mounds View during the year 2015. <br /> <br />Ordinances 875 and 876 passed on January 28, 2013 extended the original 20 year <br />franchise agreement for another 20 years. It provides that the City may impose a <br />franchise fee of not more than 4% of Xcel’s gross operating revenues at any time during <br />the 20-year term of the franchise. The 20-year term runs from January 2013 through <br />January 28, 2034. The franchise fee was first collected in 1993. <br /> <br />It has been the practice to include a sunset provision in the ordinance that requires it to <br />be re-enacted each year. The ordinance will be brought back to the City Council for <br />second reading and adoption at the September 8, 2014 meeting. It will then be <br />published in the Sun Focus and take effect as provided in the ordinance. Staff would <br />request that a summary ordinance be published with the complete ordinance available <br />on-line and at City Hall. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br /> <br />Mark Beer <br /> <br /> <br />