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Mounds View City Council August 8,2011 <br /> • Regular Meeting Page 3 <br /> 7. COUNCIL BUSINESS <br /> A. Introduction and First Reading of Ordinance 862, an Ordinance <br /> Implementing a Franchise Fee on Xcel Energy Electric and Natural Gas <br /> Operation within the City of Mounds View. <br /> Finance Director Beer indicated the City must adopt an Ordinance authorizing the franchise fee <br /> on a yearly basis. This was part of the long term agreement with Xcel Energy. He explained the <br /> franchise percentage was 3.87% and no changes were being proposed. The annual revenues were <br /> discussed in detail with the Council and he explained the franchise fees were split evenly <br /> between the general fund and street improvement fund. The Second Reading and approval of <br /> this Ordinance would be held on August 22nd <br /> MOTION/SECOND: Gunn/Hull. To Waive the First Reading and Introduce Ordinance 862, an <br /> Ordinance Implementing a Franchise Fee on Xcel Energy Electric and Natural Gas Operation <br /> within the City of Mounds View. <br /> Council Member Stigney was surprised the rate was not being increased to 4%. He felt the <br /> residents would benefit from this minimal increase and requested Staff consider this increase <br /> with the Second Reading. <br /> Mayor Flaherty was in favor of keeping the rate as is. <br /> 1111 Council Member Gunn noted the residents were in favor of the franchise fee as it was a tax write <br /> off. <br /> Ayes—3 Nays— 1 (Stigney) Motion carried. <br /> B. Introduction and First Reading of Ordinance 863, an Ordinance <br /> Implementing a Franchise Fee on Center Point Energy Natural Gas <br /> Operations within the City of Mounds View. <br /> Finance Director Beer indicated the City must adopt an Ordinance authorizing the franchise fee <br /> on a yearly basis. This was part of the long term agreement with Center Point Energy. He <br /> explained the franchise percentage was 3.87% and no changes were being proposed. This would <br /> allow the contract to remain consistent with Xcel's franchise fee. The Second Reading and <br /> approval of this Ordinance would be held on August 22nd <br /> MOTION/SECOND: Flaherty/Gunn. To Waive the First Reading and Introduce Ordinance 863, <br /> an O_di„-ncc Implem H.g a Fran-his'; Fee on Cep Point Energ,y T:-tu ral Gan C'-:,-,rations <br /> within tlr;City of Mo.i_::.c View. <br /> Council M ; _"1cr Stigney stated he would cr_upport a .87%franchise Tic <br /> Ayes—3 Nays— 1 (Stigney) Motion carried. <br /> • <br />