Reso 1996-131 to 135 - Laserfiche WebLink

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PG&E streetlight billings (pursuant to PG&E tariff to the CITY for such streetlights prior to December 1, 1997, and any full payments of such billings. It is understood and agreed that this is a compromise of disputed claims and shall not be construed as an admission of any liability of either releasing party to the other. 3.0 Stipulated Judgment. CITY and PG&E hereby agree to a stipulated judgment in eminent domain whereby CITY will acquire certain street light facilities owned by PG&E within its jurisdiction by judgment in condemnation. 3.1 The street light facilities to be acquired are those listed on the inventory attached as Exhibit A. 3.2 The price to be paid for the facilities is $651,224.41 less the money deposited with the State Treasurer and subsequently withdrawn by PG&E ($283,206.00). CITY, therefore, agrees to pay the net sum of $368,018.41 to PG&E, plus interest which shall accrue at the rate of $56.29 per day on any payment received by PG&E after January 4, 1998. 3.3 The judgment shall be in a form substantially similar to the Stipulated Judgment attached as Exhibit B. 3.4 It is further understood and agreed that CITY is acquiring from PG&E only the streetlight facilities listed on the inventory attached as Exhibit A (which the parties agree reflects all existing PG&E streetlights within the CITY). CITY is not acquiring by this Settlement Agreement or by the stipulated judgment in eminent domain any right to authorize any third party use of electrical energy from the streetlight facilities or streetlight services and CITY is not acquiring any of PG&E's electrical distribution facilities or services.