HomeMy WebLinkAboutReso 97-120 - Imposing Moratorium Eff 05-20-97 on the issuance of new contracts for teh following incentive rates: industrial time metered service , unlinking new contracts for the electric economic dev rate eff 06-17-97 �_ _, � �
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12ESOI,�J�ION NO. 97- J 20
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDDING:
(1) IMPOSING A MORATORIUM EFFECTIVE MAY 20, 1997, ON
THE ISSUANCE OF NEW CONTRACTS FOR THE FOLLOWING
INCENTIVE RATES: INDUSTRIAL TIlVIE-METERED SERVICE,
PEAK I.OAD REDUCTION SERVICE, AND' INDUSTRIAL
INTERRUPTIBLE S�RVICE; AND
(2) �TNLINKING N�W CON�`RACTS FOR THE ELECTRIC
�CONOMIC DEVELOPMENT RATE FROM INCENTIVE RATES
EFFECTIVE JUNE 17, 1997.
WHEREAS, the City Council provides financial oversight and fiscal management for the
City of Redding Electric Utility, and has the authority to establish appropriate rates, fees and
charges to guarantee the financial integrity of the Utility; and
W�IEREAS, the City Council also has the responsibility and authority to establish rate
structures and to change the structure of rates from time-to-time as may be prudent based upon
changes in the economic and business environment in which the Electric Utility operates; and
WHEREAS, in its review of the Electric Utility rate structure during the regular City
Council meetings of May 20 and June 17, 1997, the City Council concluded that incentive
rates result in a subsidy by other customers; and
WHEREAS, the City Council also concluded that the Economic Development Rate
need not require that a qualifying customer be on an incentive rate;
NOW, THEREFORE, THE CIT�' COUNCII. O�' T� CITY OF �DDING
FINDS, DETERMINES AND RESOLVES THAT:
A. Effective May 20, 1997, there will be a moratorium on incentive rates.
Incentive rates will be available only to those customers already on such a rate and will not be
available to new customers after May 20, 1997.
B. 'The Electric Economic Development Rate shall no longer require that a
customer on this rate be on an incentive rate. �
C. Following completion of the Cost of Service and Rate Design Study, the City
Council will determine whether or not to retain the changes in policy set forth in A. and B. �
above. �
BE IT FURTHER RESOLVED that staff is directed to appropriately amend the City �;
o f R e d d i n g, C a l i f o r n i a, M u n i c i p a l U t i l i t i e s S c h e d u l e o f R a t e s; a n d t h e C i t y C l e r k a n d t h e r�'
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Finance Officer are directed to maintain certified copies of this resolution in their respective
offices for inspection and review by interested persons.
I I�EREBY CERT�Y that the foregoing resolution was introduced, read and adopted
at a regular meeting of the City Council on the 15th day of July, 1997, by the following vote:
AYES• COUNCIL MEMBERS: R. Anderson, Kehoe, McGeorge and P. Anderson
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERSo Murray
ABSTAIN: COUNCIL 1VIEMBERS: None
J"���-�Q ����"�
PA�RICIA A. ANDERSON, Nlayor
Attest:
Connie Strohmayer, City C rk
Form Approved:
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W. Leonard Wingate, ity Attorney
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