2008R13-CPS Energy Fairfield Inn Project
RESOLUTION NO. 08-R-13
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 Conservation 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 CIED Fund; and
WHEREAS, funding in the amount of more than $8,993.11 is currently available
out of the City of Schertz's allocated portion of the CIED 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 $ 8,993.11 of the City's
allocated portion of the Fairfield Inn Project 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 2007 CIED Funds and next from fiscal year 2008 CIED
Funds.
PASSED AND APPROVED BY THE City Council on April 1, 2008.
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Mayor, City of Schertz
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