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<br />Item No: 7.B. <br />Meeting Date: August 22, 2011 <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, Second Reading, and Adoption of <br />Ordinance 862, an Ordinance Implementing a Franchise <br />Fee on Xcel Energy Electric and Natural Gas Operations <br />within the City of Mounds View <br /> <br /> <br />Attached is an ordinance 862 to receive a 2nd reading and adoption by roll call vote. <br />Notice was published in the August 11, 2011 edition of the Sun Focus. <br /> <br />This ordinance continues the agreement with Xcel Energy under which Xcel Energy will <br />collect a franchise fee in the amount of 3.87% of Xcel’s electric and natural gas gross <br />operating revenues for services within the City of Mounds View during the year 2012. <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 franchise will be renegotiated in 2012 for a new term but <br />that will not affect the collection of the fee in 2012. Staff would request that a summary <br />ordinance be published with the complete ordinance available on-line and at City Hall. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br /> <br />Mark Beer <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />