67 YOFAU FOUNDED 1920 Austin City Council MINUTES For SPECIAL CALLED MEETING - September 12, 1986 1:00 Ρ.Μ. - City Council Frank C. Cooksey Mayor John Treviño, Jr. Mayor Pro Tem Council Members Mark Rose Smoot Carl-Mitchell Sally Shipman George Humphrey Charles E. Urdy Jorge Carrasco City Manager Elden Aldridge City Clerk Council Chambers, 307 West Second Street, Austin, Texas Memorandum To: Mayor Cooksey called to order the special called meeting of the Council, noting the presence of all Councilmembers. The Mayor announced the purpose of the meeting was for discussion of litigation matters pertaining to electric rates, and the passage, on FIRST READING of an ordinance setting electric rates effective November 1, 1986 for the City of Austin Electric Utility. Motion The Council, on Councilmember Carl-Mitchell's motion, Councilmember Shipman's second, passed through FIRST READING ONLY an ordinance setting electric rates effective November 1, 1986 for the City of Austin Electric Utility as follows: (7-0 Vote) 1. Fuel overcharges will be refunded as per staff recommendation. 2. Fuel cost to be calculated on monthly basis. 3. Revenue requirements will be reduced by $11,034,271.00. 4. The residential class base revenue requirements be increased by an amount equal to the projected fuel cost savings. 5. The Electric Utility Commission return to the Council by October 9, 1986 with a residential rate design which minimizes increased or decreases in the overall electric bill for consumers over their current bill. Council adjourned its meeting at 3:35 p.m.