1986-06-23 Regular Meeting of La Porte City Council

Browse Search

Ordinance No. 1502 AN ORDINANCE RELATING TO RATES TO BE CHARGED BY HOUSTON LIGHTING & POWER COMPANY FOR ELECTRIC UTILITY SERVICE WITHIN THE CORPORATE LIMITS OF THE CITY OF LA PORTE, TEXAS; CONTAINING FINDINGS AND PROVI- SIONS RELATED TO THE SUBJECT; PROVIDING FOR A REPEALER AND FOR SEVER- ABILITY; AND FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW. WHEREAS, on or about March 18, 1986, Houston Lighting & Power Company (the "Company"), filed with the City of La Porte a Statement of Intent and Petition for Authority to Change Rates relating to electric utility service, and proper notice thereof was duly given; and WHEREAS, by Ordinance No. 1496, the City Council suspended the effective date of such proposed rate increase until April 14, 1986; and WHEREAS, the City Council, having considered the Company's rate increase at a public hearing for which proper notice was duly given, finds that such request is excessive; and WHEREAS, the City Council having original jurisdiction over the matter finds that a lesser increase in rates should be prescribed for the Company; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE: Section 1. The City Council of the City of La Porte hereby finds the requested rates of the Company to be excessive and unreasonable. Section 2. The City Council hereby approves and adopts the rates, adjustments, and determinations set out in Exhibit "A", attached hereto and incorporated herein for all purposes, and additionally finds and determines the following: I. Findings 1. Cost of Service The revenue requirement of the company is $3,087,698,000.00. Adjustments were made to Operations & Maintenance Expenses, Fuel Expenses, Purchased Power, Depreciation Expense, Other Taxes, Federal Income Taxes, and the Return component.