HomeMy WebLinkAbout1985-10-01 (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conflict herewith are repealed but only to the extent of such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 .
(W
Approved this day of (C 1985 .
f
ayor `
ATTEST:
W�^
City Clerk
The Arkansas Power and Light Company, a corporation hereby
accepts the above franchise subject to the terms and conditions
therein this 10th day of October 1985 .
• Arkansas Power & Light Co .
./. C�2'
Vice President
•
•