HomeMy WebLinkAbout023812 RES - 10/21/1999RESOLUTION
AUTHORIZING INTERVENTION IN ANY APPLICATION MADE BY
CENTRAL POWER AND LIGHT COMPANY (CPL) WITH THE
PUBLIC UTILITY COMMISSION IN 1999 FOR SECURITIZATION OF
REGULATORY ASSETS AND STRANDED COST; AUTHORIZING
COOPERATION WITH OTHER CITIES SERVED BY CPL; AND
REQUIRING REIMBURSEMENT OF REASONABLE COSTS FROM
CPL.
WHEREAS, the City of Corpus Christi is a regulatory authority with standing to participate
in cases before the Public Utility Commission (PUC) involving an electric utility providing service
in the City under Utilities Code §§ 33.001 and 33.025; and
WHEREAS, the City has previously participated with other cities in regulatory proceedings
before the PUC in matters involving the rates and charges of Central Power and Light Company
(CPL); and
WHEREAS, the Steering Committee of Cities Served by CPL has coordinated cities'
regulatory efforts and directed cities' intervention at the PUC for a number of years; and
WHEREAS, CPL has announced its intent to file an application with the PUC this year to
securitize regulatory assets and stranded costs pursuant to Senate Bill 7 that became effective on
September 1, 1999; and
WHEREAS, securitization will lead to the development of a rate that will be collected from
future ratepayers; and
WHEREAS, the City is entitled to reimbursement of its reasonable costs of participation
in a ratemaking proceeding pursuant to Utilities Code §33.025; and
WHEREAS, Senate Bill 7 requires that the PUC decide a securitization filing within ninety
(90) days.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI THAT:
SECTION 1. The City will intervene in any securitization case filed in 1999 by CPL
pursuant to Senate Bill 7.
SECTION 2. The City desires to cooperate with other cities under the direction of the
Steering Committee of Cities Served by CPL.
SECTION 3. CPL will reimburse the City's reasonable cost of participation in this matter.
91R130500.908
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SECTION 4. A copy of this resolution shall be sent to the law firm of Butler, Porter, Gay
and Day in Austin, counsel to the Steering Committee of Cities Served by CPL.
ATTEST:
Armando Chapa
City Secretary
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ar er,
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Samuel L.
Mayor, The City of Corpus Ch
APPROVED THIS THE 21 DAY OF Oath' , 1999:
James R. Bray, Jr., City Attorney
9JRB0500.908
Corpus Christi, Texas
AlO day of W
, 1999
The above resolution was passed by the following vote:
Samuel L. Neal, Jr.
Javier D. Colmenero
Melody Cooper
Henry Garrett
Dr. Arnold Gonzales
Rex A. Kinnison
Betty Jean Longoria
John Longoria
Mark Scott
91830500.908
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