HomeMy WebLinkAbout1987-03-01 .y 0
ORDINANCE NO. ` � - 3 - I
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 ON A CURRENT CALENDAR QUARTER BASIS; DECLARING AN
EMERGENCY AND FOR OTHER PURPOSES.
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 franchise payment hereinafter described for the
privileges stated in Ordinance No. 716 of 1965, as amended, and
WHEREAS, the City desires to establish the method of computation of such
tax as a percentage of current calendar quarter revenues as more fully ex-
plained herein , and
WHEREAS, Arkansas Power & Light Company is agreeable to such method of
computation,
NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BATES-
. VILLE, ARKANSAS, AS FOLLOWS:
Section 1: That Section 9 of Ordinance No. 716 of 1965 and as amended
by Ordinance No. 85-10-1 of 1985 is hereby amended in its entirety to read as
stated in Section 2 herein until cancelled by either party.
Section 2: Section 9 is hereby amended as follows: "Beginning with the
month April 1, 1987 , and continuing thereafter, AP&L shall pay in quarterly
installments, the sum of four and twenty-five hundredths percent (4. 25%) of
the preceding quarter' s current gross revenues collected from residential and
commercial users, excluding industrial users, located within the corporate
limits of the town and payments shall continue quarterly thereafter with pay-
ments due before the end of the month immediately following the close of a
calendar quarter. Residential and commercial electric revenues are those rev-
enues so classified pursuant to AP&L' s uniform classification standards. The
® City shall have the right to examine and verify from the records of AP&L, any
data relative to the gross revenues of AP&L from customers on which said
franchise tax is due. In the event of a controversy between the City and AP&L
as to the amount of gross revenues received by AP&L in the City of Batesville I
upon which said tax is due, such controversy shall be referred to the Arkansas
Public Service Commission, or such successor regulatory agency which may have
® jurisdiction over AP&L for final determination, and the decision of said Com-
mission shall be binding upon both parties hereto.
In it is expressly agreed and understood by the City and AP&L that the
aforesaid payment shall constitute and be considered as complete payment and
discharge by AP&L, its successors and assigns, of all licenses, fees, charges,
® impositions or taxes of any kind (other than automobile license fees, special
millage taxes, general ad valorem taxes and other general taxes applicable to
all citizens and tax payers) which are now or might in the future be imposed
by the City under authority conferred upon the City by law. In the event such .
other tax or taxes are imposed by the City, the obligation of AP&L set forth
in this Section 9 to pay the City the sum of four and twenty-five hundredths
percent (4.25%) annually of the gross residential and commercial electric rev-
enues shall immediately terminate" .
ISection 3: All other ordinances and parts of ordinances in conflict
herewith are repealed but only to the extent of such conflict.
Section 4: This ordinance being necessary for the immediate perservation
of the health, safety, and welfare of the City, an emergency is hereby de-
clared to exist and this ordinance shall be in full force and effect upon
• passage.
Passed this f C day of f� �; 1987.
APPROVED:
ayor
ATTEST:
�J
City Clerk
The Arkansas Power & Light Company, a corporation, hereby accepts the
above franchise subject to the terms and conditions therein this /.7 1!3
day of —�!� c f, 1987.
• '
ARKANSAS POWER & LIGHT COMPANY
1'
Vice President
•
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