1977-08-03 Called Meeting - Laserfiche WebLink

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• •i~ IN RE: Statement of Intent to Chagge Rates Within. the City of'` La .Porte , Texas _. BOND. • Before the City Commission of the City of La Porte • Bond No. S 760608. KNOW ALL MEN BY THESE PRESENTS::. 1~FTNA FIRE TJNDI~- THAT Entex, Inc., a Texas Corporation,.(herein "Entex") as principal, and I~3IT ~~S XIS. CQ. a ~~_~~~~ Corporation duly authorized to carry on a surety business in the State of Texas, are held and firmly bound unto the City of La Porte , (herein "the City"), a duly incorporated municipality, in the sum of $ 126 , 244. The condition of this obligation is such that: ~ - WHEREAS, on the 30th day of March ~ 19 77~ Entex filed its Statement of Intent to change rates with the City in accordance with the Public Utility Regulatory Act, and. WHEREAS, the City suspended the operation of the rate schedules attached to said Statement of Intent, and - WHEREAS, the Regulatory Autl.~ority has not made its final determination of rates within ninety (90) days from the date that the proposed change would otherwise have gone into effect, and WHEREAS, in accordance with Section 43 (e) of the Public Utility Regulatory Act, Entex is entitled to put the proposed rate into effect upon the filing with the City of a Bond payable to Regulatory .Authority, subject to the duty to refund or credit of all sums collected in excess of the rates finally ordered. NOW, THEREFORE, if said Entex, Inc.,' (a) shall abide by the final determination made by the Regulatory Authority having original or appellate jurisdiction, as the case may be, and (b) shall promptly refund or credit against future bills all sums, if any, collected during the period of suspension in excess of the rate finally determined by the Regulatory Authority having original or appellate jurisdiction, as the case may be, plus interest at the current rate as finally determined by the appropriate Regulatory Authority, then, in such event this obligation shall be null and void;-otherwise to remain in full force and effect. . Nothing herein shall prevent Entex or the City from taking an appeal from the Railroad Com- - _mission to the appropriate Court, as permitted by the Public Utility Regulatory Act: This bond shall be effective August ~, 1977. ATTEST: Entex, Inc., Principal ~~ ~~ B , c-._.~ ~ .~ . Vice President • APPROVED: AETATA FIRE UNDERk'RTTERS -IN~T~INCE GC~rFi:'~N~ , SUrCiy ` ~' ~~ . By . ~`f _ Attorney in Fact • N. Carothers l ' ~, Mayor •of the City of ,t 1 ,~