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<br /> ORDINANCE NO. 984 <br />AN ORDINANCE AMENDING ORDINANCE NO. 544 CONCERNING THE <br />FRANCHISE GRANTED TO PUBLIC SERVICE COMPANY OF COLORADO <br />WHEREAS, Ordinance No. 544, enacted May 17, 1977 granted <br />Public Service Company of Colorado a franchise for the provision <br />of electrical and gaseous energy service within the City; and <br />WHEREAS, Public Service Company of Colorado proposed that <br />Ordinance No. 544 be amended; and <br />WHEREAS, the City Council has concluded that it is in the <br />City's best interest to accept Public Service Company's offer to <br />amend the franchise. <br />NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO; <br />The first sentence of Section 1, Article V of Ordinance No. <br />544 shall be amended to read as follows: <br />Section 1. Franchise Fee. In consideration of the <br />grant of this franchise, the Company shall pay the City <br />a sum equal to three percent ( 3%) of all revenues <br />received from the sale and transportation of gas and <br />the sale of electricity within the City. <br />A new Article VII shall be added to Ordinance 544 and shall <br />read as follows: <br /> ARTICLE VII <br />section 1. Underaround Electrical Distribution Lines <br />in New Areas. The Company shall place newly construc- <br />ted electrical distribution lines underground to serve <br />new residential subdivision areas in accordance with <br />the Company's tariffs and the City'S subdivision <br />regulations; provided, however, that the Company shall <br />not be required to install any such facilities for <br />which the charges provided in these tariffs have not <br />been paid. <br />section 2. Overhead Conversion and Expense of Company. <br />A. As and when requested by the City, the Company <br /> will spend annually an amount equal to one percent <br /> (1%) of the preceeding calendar year's electric <br /> revenues received from customers within the City <br />