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14

Dec

2020

Ong Franchise Agreement

By Erik. Posted in Uncategorized | No Comments »

The proposed 25-year agreement; In April elections taken into account This amount would increase under the proposed franchise agreement with a recovery rate of 3 per cent. “We have a franchise in most of our largest communities and we are working to get more,” she said. “This gives us the opportunity to plan, to know that we will be in this community and that we have had this commitment for 25 years.” Voters also considered a proposal to amend the NGO`s franchise agreement. This change would mean that residential and commercial customers in Oklahoma City could see their gas bills increase by about 0.1 percent. According to the city manager, the franchise agreement would guarantee the use of the city`s priority right by the NGO for 25 years. The NGO will pay the city approximately $225,000 in additional annual deductible fees, an increase of about 4 per cent. The deductible fee is paid to the City`s General Fund, which is paid for daily use, such as police and fire officers` salaries. “A franchise agreement really protects both the supplier and the community,” Oyler told Council members. “All the responsibilities of both parties are mentioned. By the public vote, we have the right to use public roads. The amendment to the NGO`s franchise agreement specifies the definition of gross cash receipts that determine the deductible costs the NGO pays to the city. “NGO has been in Oklahoma since 1906 and most of its communities charge a 3 percent deductible,” Oyler told Yukon Guides.

On Tuesday, voters also approved the modification of the franchise agreement. According to Jim Crosby, the city`s director, all the other major utility companies, alongside the NGO, already have franchise agreements with the City of Yukon. As a result, NGO would pay the city approximately $225,000 in additional annual deductible fees. The proposed amendment to the NGO`s franchise agreement specifies the definition of gross cash receipts that determine the deductible fee that the NGO pays to the city. After negotiations, the city and the NGO agreed that the definition should include some of the revenue that the city had already illuminated.

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