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ORDINANCE NO. 14,985
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AN ORDINANCE AMENDING THE ARKANSAS POWER AND
LIGHT COMPANY FRANCHISE TAX ORDINANCE OF 1985
(14,768) PROVIDING FOR EXCLUSION FROM THE
ANNUAL FRANCHISE FEE ANY ADDITIONAL REVENUES
COLLECTED AS A RESULT OF THE PSC SETTLEMENT
ON THE FUNDING OF THE GRAND GULF POWER FACILITY;
AND DECLARING AN EMERGENCY.
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WHEREAS, the Board of Directors of the City of Little
Rock recognizes the financial burden placed upon the citizens of
Little Rock to pay increased electric utility bills as a result
of the recent Public Service Commission settlement with Arkansas
Power & Light Company; and
WHEREAS, the Board recognizes that a portion of the
electric rate increase resulting from the settlement is
attributable to the burden placed upon ratepayers to pay a
portion of the costs of construction of the Grand Gulf I Nuclear
Plant; and
WHEREAS, the Board recognizes that the City should not
benefit unfairly to the further detriment of its citizens as a
result of that portion of the settlement attributable to Grand
Gulf.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. That portion of Section 1 of Ordinance No.
14,768 is hereby amended to read as follows:
Effective November 8, 1985, the Power Company
shall pay in monthly installments, the sum of 5.28
of current gross revenue collection as paid to it
by industrial, commercial and residential users
located within the City limits of Little Rock
exclusive of any additional revenue collected as
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a result of.the Arkansas Public Service Commission
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Settlement on the funding of the Grand Gulf Power
Facility.
SECTION 2. Declaring an Emergency. An emergency is
hereby declared to exist and therefore this ordinance, being
necessary for the preservation of the public health, safety and
welfare, shall be in full force and effect from and after its
passage.
PASSED: November 5, 1985
ATTEST: APPROVED:
CIT CLERK JANEv{CZECH MAYOR THOMAS A. PRINCE
TO /,FORM:
MARK STODOLA, CITY ATTORNEY
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