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GAS & ELECTRIC FRANCHISE FEE FUND <br /> REVENUE COMMENTARY <br /> The Council adopted an ordinance in October 1992 which establishes a 3% franchise fee <br /> on sales of natural gas and electricity within the City. Council's purpose in establishing <br /> these fees were to develop a stable non property tax revenue source to lessen the City's <br /> reliance upon property taxes and state aids. Initially revenues of the Fund will be used <br /> to finance City services and thus "buy down" property taxes. Estimated 1994 revenues of <br /> the fund are $176,766. <br />