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(W ORDINANCF NO. G - � AN ORDINANCE REVISING AND AMENDING ORDINANCE NO. 716 OF 1965, AS AMENDED, HEREBY PROVIDING FOR THE PAYMENT OF FRANCHISE TAXES BY ARKANSAS POWER AND LIGHT COMPANY ADJUSTED BY THE GRAND GULF RIDER NO. M-33 WHEREAS , pursuant to Ordinance No. 716 of 1965 as amended Arkansas Power and Light Company (hereinafter AP&L) pays each year to the City of Batesville (hereinafter "the City") a fran- chise tax for the privileges stated in Ordinance No. 716 of 1965 ; and WHEREAS , the City desires to establish the method of com- putation of such tax based on revenue excluding those attribu- table to an adjustment of the Grand Gulf surcharge as more fully explained herein ; and • WHEREAS , Arkansas Power and Light Company is agreeable to such method of computation. WHEREFORE BE IT ORDAINFD BY THF COUNCIL OF THE CITY OF BATESVILLE, ARKANSAS , THAT: SECTION 1 : Beginning November, 1985 , the franchise tax adjustment appearing on AP&L bills rendered to customers within the corporate limits of the city will be calculated using a fac- tor which is based on 4 1/4% of the revenues collected from res- idential and commercial customers within the corporate limits of the city exclusive of an estimate of revenues attributable to the collection of the Grand Gulf surcharge pursuant to Grand Gulf Rider M-33 . In each succeeding year the franchise payment to the city will be 4 1/4% of residential and commercial revenues coll- ected of customers within the corporate limits of the city ex- clusive of revenues collectible pursuant to Crand Gulf Rider M-331 SECTION 2 : THEREFORE, Section 9 of Ordinance No. 716 of 1965 is hereby amended to read as stated in Section 1 herein until cancelled by either party. SECTION 3 : All other ordinances and parts of ordinances in conflict herewith are repealed but only to the extent of such • conflict .