2010R17-CPS Energy to Fund Electrical Infrastructure Project RESOLUTION NO. 10-R-17
RESOLUTION REQUESTING CPS ENERGY TO FUND AN ELECTRICAL
INFRASTRUCTURE PROJECT
WHEREAS, in 1993, the CPS Energy Board of Trustees adopted a resolution
establishing an Overhead Conversation Fund to finance the conversion of overhead utility
lines to underground operations;
WHEREAS, in 1995, the CPS Energy Board of Trustees adopted a resolution providing
the definition of eligible projects;
WHEREAS, on January 19, 2005 the CPS Energy Board of Trustees established the
Community Infrastructure and Economic Development ("CIED") Fund (which is not
limited to the purpose of the Overhead Conversion Fund) and transferred all remaining
funds from the Overhead Conversation Fund to the LIED Fund; and
WHEREAS, funding in the amount of more than $ 17,000 is currently available out of
the City of Schertz's allocated portion of the LIED Fund for certain electric utility
facilities;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF Schertz, Texas THAT:
Section 1: The City Council of the City of Schertz (the "City") requests that CPS Energy
authorize and appropriate an estimated amount of $ 17,000 of the City's allocated portion
of the SPV Venture in the City.
The estimated amount may differ from actual costs accrued after construction is complete. If
the actual cost exceeds the estimated cost, the difference is the responsibility of the City of
Schertz and the balance will be paid from remaining CIED Funds or directly by the City of
Schertz.
Section 2: The City Council requests that the appropriated funds shall be drawn first from
fiscal year 2009 CIED Funds and next from fiscal year 2010 CIED Funds.
PASSED AND APPROVED BY THE City Co cil on A '16, 2010
ayor, Hal aldwin
City of Schertz, Texas
T:
I ~
i y Secretary, City o c ertz