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<br />9. WHEREAS, the Settlement Agreement provides that legal and consultant expenses of I <br />the ACM Cities, up to $230,000, will be borne by CenterPoint's shareholders, not its ratepayers; <br />and <br /> <br />10. WHEREAS, the Settlement Agreement provides that CenterPoint's rate case <br />expenses before the ACM Cities or at the Railroad Commission related to its efforts to <br />implement its Statement of Intent to increase rates will be borne by CenterPoint's shareholders, <br />not its ratepayers; and <br /> <br />11. WHEREAS, the Settlement Agreement provides that the ACM Cities will be paid the <br />total of $414,000 to settle all other outstanding claims against CenterPoint, which money will be <br />distributed to the ACM Cities to benefit the public as determined by the individual members of <br />the ACM cities; and <br /> <br />12. WHEREAS, the City Council finds and determines that the Settlement as a whole is <br />in the public interest; now, therefore <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />SECTION 1. The matters set forth III the Recitals are approved and adopted as <br />statements of fact. <br /> <br />I <br /> <br />SECTION 2. The City Council approves and adopts the Settlement Agreement, a copy <br />of which is attached hereto and incorporated herein for all purposes. <br /> <br />SECTION 3. The City Council finds and determines that the meeting at which this <br />ordinance was approved was conducted in strict compliance with the Texas Open Meetings Act, <br />Texas Government Code, Chapter 551. <br /> <br />SECTION 4. If any word, phrase, clause, sentence, or paragraph of this ordinance is <br />held to be unconstitutional or invalid by a court of competent jurisdiction, the other provisions of <br />this ordinance will continue in force if they can be given effect without the invalid portion. <br /> <br />SECTION 5. All ordinances and resolution or parts of ordinances or resolutions in <br />conflict with this ordinance are repealed. <br /> <br />SECTION 6. The importance of this Ordinance creates an emergency and an imperative <br />public necessity, and the provisions of the Charter requiring that ordinances be presented at three <br />separate meetings, and that ordinances do not take effect until ten days after the date of final <br />passage are suspended, and this Ordinance will take effect upon publication of notice of its <br />adoption in a newspaper of general circulation within the City. <br /> <br />PASSED, APPROVED AND ADOPTED on Apr il 18 J 2006. <br /> <br />I <br />