Are you going forward with the request for funds from the PUC?
Yes. Currently, there is a base rate case that is our affirmation of that $60 million. 66 2/23/10 - FINANCE - BILL 090833, etc. We expect to have a final decision on that matter probably sometime in the September 2009 (sic) timeframe. And as we mentioned during the testimony, as a result of any unfavorable, although we don't anticipate unfavorable, decisions from the PUC, it's prudent that we have this Commercial Paper Program in existence so that PGW does have some liquidity stream in case of an unexpected event and not have to fall back upon the City's coffers as we have in the past, noting that the City has its own financial trouble right now.
That ends the public hearing on Bill No. 090833. Do you request a suspension of the rules on that bill? 67 2/23/10 - FINANCE - BILL 090833, etc.
We will now adjourn the hearing and go into our public meeting. The Chair calls on Councilman Kenney to move Bill 090833.
Thank you, Madam Chair. I move that Bill No. 090833 be reported out of this committee with a favorable recommendation and a request made for rules suspension to allow for first reading at our next Council session. (Duly seconded.)
It has been moved and seconded that Bill 090833 be moved out of Committee with a favorable recommendation and that a request for the suspension of rules be given so that this bill could be heard at Council's next session. All in favor will say aye. (Aye.) 68 2/23/10 - FINANCE - BILL 090833, etc.
There being none, the motion is carried. The Chair recognizes Councilman Goode for Bill 100004, report out of committee.
Thank you, Madam Chair. I move that Bill 100004 be reported out of Committee with a favorable recommendation and the rules of Council be suspended so as to permit first reading at our next Council session. (Duly seconded.)
It has been moved that Bill 100004 be reported out of Committee with a favorable recommendation and that the rules of Council be suspended so this bill can be heard at Council's next session. All in favor will say aye. (Aye.) 69 2/23/10 - FINANCE - BILL 090833, etc.
There being none, the motion is carried. The Chair recognizes Councilwoman Blackwell for Bill 100005.
Thank you, Madam Chair. I move that Bill No. 11 100005 be reported out of Committee with a favorable recommendation and also for a suspension of the rules to be heard at our next session of Council. (Duly seconded.)
It has been moved that Bill 100005 be reported out of Committee with a favorable recommendation and that a request for the suspension of rules be approved. All in favor? (Aye.)
Thank you very much. Any opposition? (No response.) 70 2/23/10 - FINANCE - BILL 090833, etc.
None. The motion is carried. The Chair recognizes Councilman Greenlee to move the amendment to Bill 6 100006.
Thank you, Madam Chair. I move the approval of the amendment to Bill No. 100006. (Duly seconded.)
It has been moved that the amendment to Bill 13 100006 be adopted. All in favor? (Aye.)
There being none, the amendment is adopted. The Chair recognizes Councilman Greenlee to move Bill 100006, as amended, out of Committee.
Thank you, Madam Chair. I move that Bill No. 71 2/23/10 - FINANCE - BILL 090833, etc. 100006, as amended, be reported out of this committee with a favorable recommendation and move further that the rules of Council be suspended to allow for first reading at our next session of Council. (Duly seconded.)
It has been moved that Bill 100006, as amended, be reported out of Committee with a favorable recommendation and that the rules of Council be suspended so this bill can be heard at Council's next session. All in favor will say aye. (Aye.)
There being no opposition, the bill is passed. Thank you all very much. We will adjourn. Thank you. (Committee on Finance concluded 72 2/23/10 - FINANCE - BILL 090833, etc. at 2:20 p.m.) - - - 73 CERTIFICATE I HEREBY CERTIFY that the proceedings, evidence and objections are contained fully and accurately in the stenographic notes taken by me upon the foregoing matter on February 23, 2010, and that this is a true and correct transcript of same. ______________________________ MICHELE L. MURPHY RPR-Notary Public (The foregoing certification of this transcript does not apply to any reproduction of the same by any means, unless under the direct control and/or supervision of the certifying reporter.)