1974-01-07 CC MinutesCITY OF FARMERS BRANCH
CITY COUNCIL
MINUTES OF A REGULAR MEETING
January 7, 1974
All members of the City Council were present:
Mayor George G. Grimmer
Mayor Pro Te m W. R. Linn
Councilmen: Ray Flaherty
Bill McClung
Ken Quevreaux
Bill Binford
Members of the City Administration present were:
City Manager Paul M. West
City Attorney Doug McCallon
City Secretary J. W. Wade
Director of Staff Services Glenn Moore
Secretary Ruth Ann Parish
Mayor Grimmer called the City Council meeting of January 7, 1974 to
order at 7:30 P. M. .
AGENDA ITEM NO. 1. - INVOCATION.
Councilman Ray Flaherty gave the invocation.
DECLARING AN EMERGENCY.
After some consideration, a motion by Councilman McClung, a second by
Councilman Quevreaux, all voting "aye", declared an emergency and
placed on the Agenda as Item 2.A. -Discuss Senate Bill No. 2506 - Natural
Gas Amendments of 1973.
AGENDA ITEM NO. 2. - APPROVAL OF MINUTES - December 17, 1973:
After some consideration, a motion by Councilman Binford, a second by
Councilman McClung, all voting "aye", approved the minutes of the City
Council meeting of December 17, 1973 with the following addition: on Page 772,
under Agenda Item No. 7, let the first paragraph read: "Mayor Grim.me r
opened the public hearing for change of zoning as described in the above
caption. Mayor Grimmer stated that the Planning and Zoning Commission
recommends the request be denied."
AGENDA ITEM NO. 2.A. - DISCUSS SENATE BILL NO. 2506 - NATURAL
GAS AMENDMENTS OF 1973.
T1W City Council reviewed some information from the Texas Municipal League
requesting support from municipal officials in opposition to Senate Bill No. 2506.
After some discussion that this bill would infringe upon free enterprise, a
motion by Councilman McClung, a second by Councilman Binford, all voting "aye
Page 785.
instructed the City Administration to draw up a resolution opposing Senate Bill No. 2506
and copies to be sent to the proper legislators concerned.
AGENDA ITEM NO. 3 - CONSIDER ORDINANCE NO. 987 ABANDONING A PORTION
OF IRON1 ALE STREET.
City Manager Paul West explained that the proposed Ordinance No. 987 is necessary
to abandon that portion of lrondale Street that was recently quit claimed to Charles
Blaylock and Cowden Henry in order to give Mr. Blaylock and Mr. Henry an insurable
title to the west twenty feet of Irondale Street. Mr. West stated that this does not
abandon the east twenty feet of Irondale Street.
After some discussion, a motion by Councilman Binford, a second by Councilman
Quevreaux, all voting "aye", adopted the following captioned ordinance number
987:
AN ORDINANCE OF THE CITY OF FARMERS BRANCH, TEXAS
ABANDONING PUBLIC RIGHTS OF THE WEST TWENTY (20)
FEET OF A PORTION OF IRONDALE STREET, FROM THE NORTH
RIGHT-OF-WAY LINE OF CARRICK TO THE SOUTH RIGHT-OF-
WAY LINE OF VERBICK, A PUBLIC STREET IN THE CITY OF
FARMERS BRANCH, TEXAS; SPECIFICALLY PROVIDING THAT
SUCH ABANDONMENT SHALL NOT BE AN ABANDONMENT OF
THE EAST TWENTY (20) FEET OF IRONDALE OF SAID PORTION
OF SAID STREET; AND DECLARING AN EMERGENCY.
AGENDA ITEM NO. 4 - CONSIDER ORDINANCE NO. 988 AMENDING THE
ELECTRICAL ORDINANCE.
City Manager Pau West explained that the present City Electrical Code provides that
the city can only issue permits to master electricians to do electrical work for the
City of Farmers Branch, and that any work done without an electrical permit is in
violation of the code. Mr. West stated that the City Administration recommends
that the code be amended so as to allow city employees to do work on city owned
equipment and property only, provided they are licensed Journeyman or Master Electricians.
Mr. West stated that all requirements of the electrical code and ordinances must be
followed by city employees with the exception that permit fees are not required.
After some discussion, a motion by Councilman Flaherty, a second by Councilman
Binford, all voting "aye", adopted the following captioned ordinance number 988:
AN ORDINANCE OF THE CITY OF FARMERS BRANCH, TEXAS,
AMENDING THE CODE OF ORDINANCES OF THE CITY OF
FARMERS BRANCH, AS HERETOFORE, AMENDED BY AMENDING
SECTION II-79, PUBLIC UTILITY REQUIREMENTS AND EXEMPTIONS,
BY ADDING PARAGRAPH (E); PROVIDIN G A PENALTY NOT TO
EXCEED THE SUM OF TWO HUNDRED DOLLARS ( $200.00) FOR
EACH OFFENSE; AND DECLARING AN EMERGENCY.
AGENDA ITEM NO. 5. -CONSIDER ORDINANCE NO. 989 FOR WATER QUALITY
CONTROL.
City Manager Paul West explained that the Texas Senate Bill 835 and Texas Water Quality
Board order 71-1212-25 requires cities to establish water control and abatement programs.
Page 786.
Mr. West stated that proposed ordinance 989 will allow the city to control diffuse
waste sources which exist or will exist in Farmers Branch in the foreseeable future.
The ordinance will be a tool to discourage stream water pollution and improve the
appearance of natural drainage channels within the city.
After some discussion, a motion by Councilman Linn, a second by Councilman
Quevreaux, all voting "aye", adopted the following captioned ordinance number
989:
AN ORDINANCE OF THE CITY OF FARMERS BRANCH, TEXAS,
AMENDING THE CODE OF ORDINANCES AS HERETOFORE
AMENDED BY AMENDING CHAPTER 15, "HEALTH AND
SANITATION" BY ADDING SECTION 15-4, ENTITLED "ACTS
ADVERSELY AFFECTING WATER QUALITY," PROHIBITING
CERTAIN ACTS ADVERSELY AFFECTING WATER QUALITY IN
THE STORM DRAINAGE SYSTEM, PROVIDING FOR A PENALTY
FOR EACH VIOLATION THEREOF; PROVIDING THAT EXCEPTIONS
AND EXEMPTIONS NOT REQUIRED TO BE NEGATED; PRO-
VIDING A SAVINGS CLAUSE; AND AN EFFECTIVE DATE.
AGENDA ITEM NO. 6 -CONSIDER ORDINACE NO. 990 REPEALING CERTAIN
SECTIONS OF ORDINANCES CONCERNING SPEED LIMITS.
City Manager Paul West explained that the proposed ordinance number 990 repeals
Section 4 of Ordinance No. 38 and Section 5 of Ordinance No. 536 and Section 2 of
Ordinance No. 597. These three ordinances set speed limits in various parts of the
city. The three sections repealed can be interpreted to repeal virtually all of the
speeding ordinances of the city. By repealing these three sections, all of the speeding
ordinances will be valid and enforceable.
After some discussion, a motion by Councilman Quevreaux, a second by Councilman
Linn, all voting "aye", adopted the following captioned ordinance number 990:
AN ORDINANCE OF THE CITY OF FARMERS BRANCH, TEXAS,
REPEALING SECTION 4 OF ORDINANCE NO. 38; REPEALING
SECTION 5 OF ORDINANCE NO. 536; REPEALING SECTION 2
OF ORDINANCE NO. 597; PROVIDING THAT ALL PARTS NOT
REPEALED SHALL REMAIN IN FULL FORCE: AND DECLARING AN
EMERGENCY.
AGENDA ITEM NO. 7 - CONSIDER BIDS FOR 4-WHEEL VEHICLE FOR THE
PARK DEPARTMENT.
City Manager Pau West stated that two bids had been received that met all the
specifications for a 4-wheel turf vehicle for the Park Department. The two bids
were: Colonial Motors in the amount of $ 3,471.93, and Watson Distributors
in the amount of $3,653.75. The City Administration recommends to award the
bid to Colonial Motors, the low bidder.
After some discussion, a motion by Councilman Linn, a second by Councilman
Quevreaux, all voting "aye", authorized the purchase of a four-wheel turf vehicle
from Colonial Motors in the low bid amount of $3,471.93.
Page 787.
MRS. BARBELL AND BOY SCOUTS, MIKE FISHER AND BILL BARLANDO
FROM TROUP 581 WERE PRESENT AND INTRODUCED.
MAYOR GRIMMER ANNOUNCED THAT ITEMS ON THE AGENDA FOR
THE GENERAL SESSION HAVE BEEN CONCLUDED, AND THERE IS AN
ITEM FOR DISCUSSION IN EXECUTIVE SESSION. MAYOR GRIMMER
EXPLAINED THAT UNDER SECTION 2. G. OF THE NEW OPEN MEETING
LAW THAT WENT INTO EFFECT JANUARY 1ST, CERTAIN CONDITIONS
SUCH AS LAND ACQUISITIONS AND PERSONNEL MATTERS ARE PRO-
VIDED FOR DISCUSSION IN CLOSED SESSIONS.
AGENDA ITEM NO. 8. - EXECUTIVE SESSION
Discuss Personnel Matter
There was discussion concerning Mr. Ray Thacker serving on the Building
Board of Appeals and Zoning Board of Adjustments for a 2 year term,
subject to his acceptance. This be for the position of Alternate Place 2.
THE MEETING WAS OPENED BACK INTO GENERAL SESSION
Upon a motion by Councilman Quevreaux, a second by Councilman McClung,
all voting "aye", appointed Ray Thacker to serve a term of two years on
the Building Board of Appeals and Zoning Board of Adjustments, conditioned
upon his acceptance of the appointment, for position Alternate Place 2.
AGENDA ITEM NO. 9. - ADJOURNMENT.
Upon a motion by Councilman Linn, a second by Councilman Binford, all
voting "aye", adjourned the City Council meeting of January 7, 1974 at
7:55 P. M. .
Mayor eor G. immer
City ~eoetary J. W. Wade
Page 788.
g 69
000
INTEREST COVERAGE:
I have said all these other things in order to say this-a sum total result of increased construction costs,
fuel costs, money costs and other costs, is that our interest coverage is sliding downhill.
Most of you have encountered the "interest coverage" factor in selling municipal bonds. Arid you
know how vital it is for getting the lowest possible interest rates.
Interest coverage simply represents the number of times our earnings will cover the interest on our
long-term debt. For our Company, it has dropped from eight times earnings to less than five in the past 10
years and will drop below 4 in 1974 without rate relief.
Interest coverage is a prime consideration in establishing bond ratings. Our Company must stabilize
this decline if we are to maintain our current Triple A bond raying.
Assume we need $190 million in new construction money in 1974 and $250 million in 1975--and we
must raise 60% of that in outside money. A drop from our Triple A to a Double A bond rating would likely
cost us a quarter of one percent at the money market--many millions of dollars of extra interest over the
lives of the bonds.
Interest is one of our big costs of doing business.
INTEREST ON LONG TERRA DEBT
(MILLIONS OF DOLLARS) $31.2
* Estimated
1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974*
INTEREST ON LONG TERM DEBT:
The interest on the Company's long term debt amounts to
$25,600,000 for 1973 alone.
INTEREST RATES AS OF DATES SECURED
PERCENT INTEREST
8%% 8%%
73/4%
65/8%
4 Y2 %
BE PT.
1970
7 1/8 % 7 Y2, % 7'/2 %
FEB.
1970
APR.
1969
FEB.
1972
FEB.
1973
FEB.
1971
JAN.
1963
JAN.
1966
INTEREST COST:
Our customer growth and new construction are more than just a matter of kilowatts-they boil
down to a matter of dollars and cents.
As all of you know, the cost of borrowing money has risen rapidly and substantially during the
past few years.
When you must raise the millions of dollars of new money which we must have to meet growing
customer needs, the cost of interest on that money becomes very important. This chart shows how our
interest rates on new debt issue has risen in the past few years.
For example, a $30 million bond issue which we sold in 1970 at 8-718% will cost us $2,662,500
per year in interest for 30 years.
SOURCE OF INVESTMENT FUNDS
MILLIONS OF OOLLARS~
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19fi4 1995 19fifi i997 i969 i9R9 1970 i971 1972 1973 1974# i974#*
Estimated, without propased rate increase Estimated, with proposed rate increase
~ ~
SOURCE OF FUNDS FOR NEW CONSTRUCTION:
The funds to finance this massive new construction comes from two basic sources those
funds which we can generate within the Company, and the money we must raise in outside
financing from the sale of Bonds, Preferred Stock and Common Stock.
A major share of the new construction money, as you can see from this chart, comes from
outside financing over 60 percent. The remainder comes from internally generated funds.
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TEXAS POWER & LIGHT COMPANY
CONSTRUCTION EXPENDITURES
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CONSTRUCTION EXPENDITURES:
Our customers' electrical requirements are continuing to grow at a rate of about 11% a
year ...and we must construct new generating plants, new transmission lines, new distribution facilities
to meet those needs.
The Company's construction expenditures will be about $162 million in 1973, and the chart
shows that it will be significantly higher in 1974. As stated earlier, TP&L's construction budget in the
next six to seven years will be at least $1 billion, and probably will go to $1.5 billion by 1982.
A large portion of this construction money--aver $82 million in 1973--goes for new generating
plants, made necessary not only by system growth but also the switch to lignite and nuclear fuels.
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INVESTMENT PER CUSTOMER:
Just as the total TP&L investment in facilities has grown, the Company's investment per customer has
also risen.
We have an average of about $2,100.00 invested in facilities for each of our 545,659 customers. That's
about twice as much as 10 years ago.
Our present-day investment to serve a new customer is about $300, or more, per kilowatt of added
load. For example:
To serve a new window air conditioner which a customer adds, TP&L must invest about $300 in
raneration, transmission and distribution equipment.
To serve a new home with three tons of air conditioning, TP&L must invest about $2,000 in new
facilities.
To serve a new hospital with 500 kw load, TP&L must invest at least $150,000.
To serve a new factory, which will provide 500 new jobs and have an electric load of 3,000 kw, TP&L
must invest about $1,000,000 in new facilities.
We must serve thousands of new loads such as these. In order to finance the millions of dollars needed,
we must earn an adequate return on investment. We cannot do that on present rates.
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TOTAL INVESTMENT I
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1200
1000
900
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1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974*
M * Estimated
TOTAL INVESTMENT IN FACILITIES:
Texas Power & Light Company must spend vast amounts of new money to provide for use
of lignite and nuclear fuels and to serve the growing electricity demands of its present and
increasing number of customers.
The chart tells the story. At the end of 1974, our company will have about one billion, 330
million dollars ($1,330,000,000) invested in the facilities which are necessary to serve its
51-county service area.
TP&L's investment has doubled in the past five years, tripled in 10 years.
Only NOW
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ALL ITEMIS
TRANSPORTATION FOOD
U.S. Dept. of Labor, August, 1973
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HOUSING
MEDICAL CARE
SERVICES
NOBODY LIKES RISING COSTS:
This chart shows 1973 figures from the United States Department of Labor.
The cost of living has increased 44.7% in the last 10 years. Yet the cost of residential electric
service used in 1963, compared to 1973, has increased only 5.7%. This is due to increased electricity
usage at lower per kwh unit cost and two rate decreases that helped offset the 6% rate increase which
you granted to us in 1972.
I believe you will agree that electricity remains one of the biggest bargains in the family budget.
5C
PRICE PER AVERAGE KWH -RESIDENTIAL
4.15G
3¢
20
1c
4C
Fi.
z
Minvo-
~
In
3,330
V7 k 2.880
P4 K~ e
2.490
2.390
2.24 2.310 yM1
f
2 180
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1952 1957 1962
1967 1972
1973 * 1974*
1974
* Estimated,
withouI sed rate increase
"Estimated, with
propaiM:e increase
PRICE PER AVERAGE KWH RESIDENTIAL:
While the use of electricity has gone up during the past 20 years, our charge per kilowatt
hour has declined from 4.15,s in 1952 to 2.88 in 1962 to 2.18 in 1372.
This downward trend reflected the economics of increased usage, larger generating plants,
relatively low cost fuel, low interest rates and efficient management practices.
Now, construction costs, fuel costs and money costs have risen dramatically and it is
necessary that we tilt this trend upwards, with our average price per kilowatt hour moving back
toward the 1962 level.
(Fuel adjustment is included in figures shown.)
KILOWATT HOURS
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ANNUAL KWH USE PER RESIDENTIAL CUSTOMER:
Not only is the number of electric customers growing in the Texas Power & Light Company service
area, but also the kilowatt hour use per customer is increasing.
You can see from this chart that the average kwh use per residential customer has more than doubled
in the past 10 years.
This increase in electricity wasn't brought about just by the addition of more and more electric
gadgets--but rather by the improvement of living standards among many of our customers. Residential air
conditioning has, of course, been a big factor. In some of our less affluent neighborhoods, kilowatt
consumption has risen a staggering 75% in just six years, even though there has been no change in
construction or population patterns.
The residents of those areas are, for the first time in their lives, enjoying the comforts of air
conditioning and other appliances that most of us take for granted.
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CUSTOMERS SERVED
The number of customers which Texas Power & Light Company serves has grown steadily during
the past 10 years--and there is every indication that it will continue to do so. We have gained 154,651
customers in the past 10 years.
CONCLUSION
I believe it is apparent that this rate increase is
not a spur of the moment thing.
We have exhausted every possible alternative to
avoid it.
We have postponed it as long as we can.
Let me explain why adequate rates are so vital to both
us and our customers---and how our financial well-being is essen-
tial if we are to be able to meet the future ellectricity require-
ments of our customers and also avoid much higher costs to these
customers.
Texas Power & Light Company is one of only seven el-ectric
utilities in the United States with a Triple A bond rating. That
good credit rating makes it possible for us to raise these vast
sums of new construction money at the lowest interest rates. And
it enables us to compete favorably for funds with all other borrowers.
Right now, we are in sound financial condition but our
condition is deteriorating. You have only to look at the sharp
decline in our interest coverage.
The enormous increases in money needed for plant construc-
tion costs, higher interest rates on that money, and growing envir-
onmental requirements which we are incurring as we switch fuels
. . . coupled with the necessity of refinancing maturing low-interest
debt at today's high interest rates . are resulting in higher
embedded interest cost, in declining interest coverage, and in a
declining return on our investment.
Frankly; this trend--unless reversed--will erode
our bond rating our credit rating. The money we borrow
would cost more and consequently, the electricity we produce
would in the future cost our customers more than it otherwise
would.
Simply stated, this means that if we are to continue
to serve the electrical requirements for our customers in the
future as we have in the past, we must maintain earnings at a
satisfactory level to attract the large amounts of new capital
required . . . at the most reasonable interest rates available.
With this rate increase TP&L's 1974 projected rate
of return on its fair value rate base with a full year's effect
will be 7.29/.
This rate adjustment will cost the average residential
customer less than 71~ per day and when approved it will appear
on March, billing.
Let me say again . . . nobody likes rising costs . . .
however, this 10/ rate adjustment we are requesting is the minimum
amount necessary at this time to meet the rising cost we face and
maintain earnings which our Company must have to continue to
provide the electrical requirements of our customers.
Texas Power & Light Company will appreciate a favorable
decision on this request.
-2-