HomeMy WebLinkAboutORD 3477• OROINANCB NU. 3 4 7 7
01-WINANCE Of TH.t: COUNCIL U~' Tl-!E CITY 01." PALO ALTO
AMJ-:NDING THI:: ~UUGET i<'OR THE 1.-'ISCAL l'r~AR l9tl3-tl4 1\)
8STAl:H ... I SH A RES t:RV8 FOE S YSTt:N !MPROV~MENT 1 N THt:
GAB U'fi LJT'i fUND AND TO INCH.E!ASE ~;:::>TlMATED kiliVt;NIJE
FROM GAS UTILITY CUSTOMER BILLING
WHERI:~AS, pursuant. to the provisions of Section l:G of. Article III
of the Charter of the City of Palo Alto, the Council on June 27, 1983,
did adopt a budyet for tiscal year 19tl3-84: and
WHBR~AS, the Council of the City of Palo Alto has previously di
rected staff to proceed in its efforts to secure .low cost '::Ja.s ~.upp.l H~s
to supplernt3nt existing PG&E deliveries; and
WHER!:'~A~;, recently enacted Palo l\lto Gas Utility r_·eta.i.l rat<~ in·~
creases have resulted in major: rate r:eli.ef whict-.1 exceeds the 1983-84
adopted budget estimates;
NU\1-1, THERt:fOREr the Council of the City of l!alo ,t\lto does UR.DAIN
as foLlows:
::>8CTION l, A reserve for system improvement be established in the
Gas Utility Fund to finance Council approved gas supply and development
expenditures. 22,6 :nils per thf)t:"ffi of the qas systE:m rates are hereby
reserved for system improvement, retroactively applied t.o sales
beginning on July 1, 1983.
SECTION 2. f~stimated revenue from customer billin~ in the Gas
Uti 1 i ty l:'"'und is increased by the sum of E:igl1t Hundred Twenty-three
Thousand Dollars ( ~823 ~ 000) and the reserve for system improvement in
the Gas Utility Fund is corz:·espondingly increased.
SECTION 3. The Council finds that this is not a project under the
California Environmental Quality Act and, therefore, no environmental
impact assessment is necessary.
SECTIOH 4. This ordinance shall become effective inunediately as
provided in Section 12 of Article II I of the Charter and Sect ion
2.04.375 of the Palo Alto Municipal Code.
INTRODUCED AND PASSED: October 3, 1983
AYES: Bechtel~ Cobb, Eyerly, F~zzino, Fletcher~ Klein~ levy, Renzel,
Witherspoon
NOES: None
ABSTENTIONS: None
ABSENT:
APPROVED:
Me~'kbd~·~---
83/4-08
• • . ..
FORM:
83/4-08