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Res 2007-050
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Res 2007-050
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Last modified
8/23/2007 3:00:06 PM
Creation date
3/22/2007 2:55:29 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Purchase
Number
2007-50
Date
3/20/2007
Volume Book
171
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<br />parcels at 1725 and 1801 Quail Run The customer charges (Impact fees and service <br /> <br /> <br />tap fees) Will be waived In consideration of the utility sale <br /> <br />7. DISPOSITION OF UTILITY SERVICE REVENUES <br /> <br />I <br /> <br />All revenues for utility services and other lawful tariffed charges accruing to, but <br /> <br /> <br />not as of the date of closing collected by, the Utility for services furnished prior to the <br /> <br /> <br />date of closing Including. but not limited to, revenue attnbuted to delinquent accounts <br /> <br />(hereinafter collectively referred as "accounts receivable") shall remain the property of <br /> <br />the Utility to be conveyed to the CIty H1 conjunction With the Istock transfer] and to which <br /> <br />accounts receivable Sellers shall have no fight title, Interest or claim <br /> <br />8. CUSTOMER DEPOSITS <br /> <br />The repayment of Utllity's customer depOSits and accrued Interest shall be the <br /> <br />Cltys responSibility to the extent recogn Ized under the Texas Utilities Code and the <br /> <br />rules of the TCEQ <br />9. CONTRIBUTION-IN-AID-OF CONSTRUCTION <br />ThIs IS a contract for the sale and control of Utility To the extent there may be <br />reportable contnbutlonS-ln-ald-of-conslructlon or other contnbuted property In Utility's <br /> <br />assets, the same Will be and are reflected In the books and records of the UtIlity <br /> <br /> <br />expressly as such and to which City has the right of inspection and cOPYing prior to the <br /> <br />date of clOSing and Will Ilave ownership and possession of after closmg Sellers prOVide <br /> <br />thiS notice to City pursuant to Sectton13 301 (f) of the Code City IS further put on notice <br /> <br />that contributed property may not be Included In Invested capital or allowed depreCiation <br /> <br />expense by any regulatory authOrity haVing JUriSdiction over Utility's rates In any future <br /> <br />rate making proceedings ongl/lal or appellate, Notwithstanding the foregOing <br /> <br />I <br /> <br />I <br /> <br />Page 8 of 12 <br />
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