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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY <br /> � OF GRAPEVINE, TEXAS: <br /> � <br /> Section 1. The PUC is hereby encouraged to thoroughly review the equity of <br /> depreciation shifting from transmission and distribution assets to nuclear production <br /> assets, as called for in the Stipulation, to determine whether the shifting of depreciation is <br /> consistent with sound regulatory and public policy. <br /> Section 2. The retail base rate reduction tariffs filed by TUEC (Rider RRD — <br /> Residential Rate Reduction, Rider GSRD — General Service Secondary Rate Reduction, <br /> and Rider RD — Rate Reduction) are approved effective January 1, 1998. The referenced <br /> schedules shall remain in effect until such time as they may be changed, modified, or <br /> amended by the approval of the City Council. The filing of the rate schedules shall <br /> constitute notice to the consumers of electricity, within this municipality, of the availability <br /> and application of such rate schedules. <br /> Section 3. Nothing contained in this Ordinance shall be construed now or <br /> hereafter as limiting or modifying in any manner the right and power of the Governing <br /> Body of this municipality under the law to regulate the rates, operations, and services of <br /> TUEC. <br /> "�"" Section 4. Notwithstanding any other provision of this Ordinance, the rates <br /> authorized for electric service in the City of Grapevine shall not exceed the lowest rates <br /> � available to residents of any other municipality served by TUEC finally resulting from <br /> TUEC's filing of the Stipulation and any appeals from city ordinances connected <br /> therewith. <br /> Section 5. This Ordinance shall be in full force and effect from and after its <br /> passage, and it is so ordained. <br /> Section 6. It is hereby officially found and determined that the meeting at which <br /> this Ordinance is passed is open to the public as required by law and that public notice of <br /> the time, place and purpose of said meeting was given and required. <br /> Section 7. The fact that the present ordinances and regulations of the City of <br /> Grapevine, Texas, are inadequate to properly safeguard the health, safety, morals, <br /> peace, and general welfare of the public creates an emergency which requires that this <br /> ordinance become effective from and after the date of its passage, and it is accordingly <br /> so ordained. <br /> PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF <br /> ,�„ GRAPEVINE, TEXAS on this the 3rd day of February , �ggg . <br /> � <br /> ORD.N0.98-14 2 <br />