O-1977-1074 - Laserfiche WebLink

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e . ORDINANCE NO. 1074 . AN ORDINANCE AUTHORIZING THE HIRING OF THE FIRM OF TOUCHE, ROSS & COMPANY; INCORPORATING THE LETTER AGREEMENT BETWEEN THAT FIRM AND THE CITY OF LA PORTE FOR THE PURPOSES AND AT THE TERMS STATED THEREIN; ESTABLISHING A POLICY FOR ANY PRIVATELY-OWNED UTILITY FOR PAYMENT TO THE CITY AND/OR TO PERSONNEL HIRED BY THE CITY UNDER SECTION 24 OF THE TEXAS PUBLIC UTILITY REGULATORY ACT; AND MAKING CERTAIN FINDINGS OF FACT; AND PROVIDING AN EFFECTIVE DATE HEREOF. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE: Section 1. Pursuant to the March 30, 1977 "Statement of Intent to Change Rates" filed with the City by Entex, Inc., a privately-owned public utility, for an increase in gas rates and other considerations (the "Entex Mattern) and pursuant to Article l446(c), V.A.T.S., the "Public Utility Regulatory Act", 4It the City Commission of the City of La Porte, acting on its own motion, finds it necessary to employ outside utility accounting consultants to handle the Entex Matter on behalf of the City. Section 2. Pursuant to the agreement between the City Commission of the City of La Porte and the accounting firm of Touche, Ross & Company, which agreement is attached hereto and made a part of this ordinance for all purposes stated both herein and in said letter agreement, the Mayor and City Clerk are authorized to execute this agreement on behalf of the City commission. . Section 3. Pursuant to Article l446(c), Sections 23 and 24, the City Commission of the City of La Porte is obligated to make a reasonable determination of rate base, expenses, investment and rate of return within the municipal boundaries in order to regulate its public utilities. To do so, the City Commission of the City of La Porte must hire outside rate experts pursuant to Section 24 of Article l446(c). The City Commission of the City of La Porte finds that it does not have budget funds in its current budget adopted October 1, 1976, to provide for payment of such outside experts before being reimbursed by the public utility as provided in Section 24 of Article l446(c), .