Loading...
2008R12-CPS-Doerr Lane RESOLUTION NO. 08-R-12 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 Conversion 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 Conversion Fund to the CIED Fund; and WHEREAS, funding in the amount of more than $121,875 is currently available out of the City of Schertz' 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$121,875 of the City's allocated portion for the Doerr Lane 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 May 13, 2008. TZ, TEXAS Mayor