Title
A Resolution renewing the Franchise Agreement with Ky. Utilities Co., Inc., for a final additional term of five years pursuant to the provisions of Ordinance No. 35-2013 as amended by Ordinance No. 102-2013, and authorizing and directing the Mayor, on behalf of the Urban County Government, to execute any necessary documents related to the renewal. [Dept. of General Services, Ford]
Summary
Authorization to renew the utility franchise Agreement with Kentucky Utilities Company, Inc. for an additional 5 years, through April 11, 2028. The franchise Ordinance provided for an initial 5-year term with two additional renewal options of 5 years each; this is the second option to renew. Kentucky Utilities will reimburse LFUCG for its costs associated with the audit. No Budgetary impact. (L0275-23) (Ford)
Budgetary Implications [select]: No
There is no Budgetary impact to LFUCG in the current or future fiscal years. The franchise Agreement does require payment of associated franchise fees by the utility.
Advance Document Review:
Law: {Yes, Completed by David Barberie}
Risk Management: No
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the franchise Agreement with Kentucky Utilities Company, Inc., be and hereby is renewed for a final additional term of five years beyond its current expiration date pursuant to the provisions of Ordinance No. 35-2013, as amended by Ordinance No. 102-2013, and the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized and directed to execute any necessary documents related to the renewal.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL
0275-23:GET:X:\Cases\GENERAL\23-LE0001\LEG\00776454.DOC