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<br />- <br /> <br />. <br /> <br />Ordinance No. 1502 , Page 4 <br /> <br />effective date of rates set as a result of the Company's next filed <br /> <br /> <br />statement of intent to change rates, whichever ending date is sooner, <br /> <br /> <br />the Company may place into a deferred account all depreciation expense, <br /> <br />tax expense, and operation and maintenance expense incurred during <br /> <br /> <br />that time period by the Company related to Limestone Unit 2, and upon <br /> <br /> <br />review, approval, and adjustment of such deferred expenses by the <br /> <br />City inthe proceeding considering the Company's next filed statement <br /> <br /> <br />of intent to change rates, these deferred amounts shall be amortized <br /> <br /> <br />over a period of ten (10) years from the commercial in-service date <br /> <br />of Limestone Unit 2. <br /> <br /> <br />The City Council hereby orders the Company, upon the commercial <br /> <br /> <br />in-service date for Limestone Unit 2, to transfer its total investment <br /> <br />in Limestone Unit 2 from Construction Work In Progress to Plant in <br /> <br /> <br />Service. The City reserves the right to exclude from rate base or <br /> <br /> <br />other recovery any portion of the expenditures from the plant, AFUDC, <br /> <br />capitalized expenses, capitalized depreciation or other capitalized <br /> <br /> <br />costs related to Limestone Unit 2 t'.hat the City determines is not <br /> <br /> <br />used and useful, has been imprudently spent or incurred, or is in any <br /> <br />other way not lawfully includable in rate base or other recovery. <br /> <br /> <br />The City further reserves the right to determine the reasonableness <br /> <br /> <br />and prudence of any deferred expenses in the rate order in which rate <br /> <br />base treatment for Limestone Unit 2 is requested. <br /> <br /> <br />The City Council finds that all of the Company's investment in <br /> <br />Limestone Unit 2 as of December 31, 1985, is presently in rate base <br /> <br />as Construction Work in Progress. <br /> <br /> <br />The City Council hereby orders that the Company shall not, after <br /> <br /> <br />the date of final passage of this ordinance, accrue any AFUDC on any <br /> <br />Limestone Unit 2 investment. <br /> <br /> <br />2. The City Council hereby orders the Company, after the date <br /> <br /> <br />of final passage of this ordinance, to include in reconcilable fuel <br /> <br />expense for any fuel purchased form an affiliate only fuel prices at <br /> <br /> <br />cost, and to exclude any returns on or of equity. <br />