01141985 Special Meeting (2) - Laserfiche WebLink

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43 Special Meeting January 14, 1985 Page 2 The first phase increase would be about 30% overall, usIng this clinical rate filing -- if all customers of service pay their fair share of total cost of electric service, then the amounts of increase through which they have filed will be demanded of that individual class of customer. The financing philosophy that they use IS that they try to work out a mixture of equity and of debt that will cost the customer the least total dollars over the next ten years. He noted 80% debt and 20% revenue dollars each year will produce the lowest cost to the customer in terms of promoting all physical plant additions over the next ten years. ~ayor Craddock asked what effect the increase had on residential customers and the response was 38.85%. Mr. Brown asked if the increase would affect the quality of service, and Mr. Logan replied that the quality of service would be maintained as it is now. Mr. Erown also asked if growth would pay its own way, and Mr. Tintsman replied that it couldn't be compared to the City's Capital Recovery Pees. ~r. Tintsman also stated that with the new rates, LCRA will have the 4th or 5th lowest rates in the state of Texas. City Manager Gonzalez stated that the City has shown an interest in the purchase of the system. He said that he hadn't received all the information he had requested. Mr. Tintsman replied that all the information requested had been supplied. Mr. Gonzalez stated that the City was interested In exploring possibilities of creative ways to purchase, rather than the tremendous rate increases and finances. Mr. Gonzalez asked Mr. Butler what the next step was, and he replied that on March 11, 1985 the case will go to a hearing before PUC. He also stated that April 7, 1985 1S the last day for the City to take action. Mayor Craddock asked if anyone else wished to speak and no one did, so Mayor Craddock closed the public hearing. ~ayor Craddock moved to adjourn the meeting and Mr. Brown seconded the motion which passed unanimously. The meeting adjourned at 8:02 n.~@~ Emmie Craddock Mayor K~{ v(;. f:;;; ~ ~ &ëJ¡ ~ J~l Z~ ~ counCilM~~~CT ~. - / Hi 1 Coùington 7 áne Ki~ C nCl ~ber eil ~ber I -.~. . ,arr J Moore Member Council Member ATTEST:, . Î',t/ ;1 . \ >--.)) )/':J /~^, I ¿? / Iv LivnL,,_J.:7f. .'0 {fð I Y\h-CYC- J,nis K. WomacK City Secretary These minutes were transcribed and typed by Susan E. Newey.