RESOLUTION NO. 151-05

A RESOLUTION AUTHORIZING PUBLIC SERVICE COMPANY OF COLORADO D/B/A XCEL ENERGY TO USE THE CITY OF GRAND JUNCTION OVERHEAD TO UNDERGROUND ONE PERCENT (1%) FUNDS FOR THE RIVERSIDE PARKWAY IMPROVEMENT PROJECT AS ESTABLISHED IN THE ORDINANCE GRANTING A FRANCHISE SIGNED NOVEMBER 4, 1992

RECITALS:

The City of Grand Junction is designing a project to widen and improve River Road as part of the Riverside Parkway. Construction of the new road along the east side of the Riverside neighborhood will begin in 2006. At present there are overhead electrical facilities along the proposed corridor.

The City Council has determined that the relocation of those existing power lines from overhead to underground is necessary for the betterment of the Riverside Parkway corridor project and that undergrounding of the electric lines will benefit the adjacent residents and the users of the Parkway.

The existing overhead electric facilities are located within the Grand Junction City limits. Pursuant to the franchise agreement between the City and Public Service, a fund has been created for underground construction and overhead conversion of electric lines. The Riverside project is an eligible project for the expenditure of undergrounding funds.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION, COLORADO:

 That the use of overhead to underground conversion (also known as one percent (1%)) funds in an amount of up $1,000,000, in such locations as the City Manager may designate, for the Riverside Parkway Project, is hereby approved.

AND BE IT FURTHER RESOLVED THAT by this resolution the City Council does request XCEL Energy to expend undergrounding funds for this project.

 ADOPTED and APPROVED this 7^th day of September, 2005.

Attest:

/s/ Stephanie Tuin          /s/ Bruce Hill        

City Clerk            President of City Council