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I t INTRODUCED BY: Mr. Crow DATE: September 12, 2011 r '= BILL NO.: 9135 ORDINANCE NO.: 6868 AN ORDINANCE TO MAINTAIN THE BUSINESS LICENSE TAX RATE IMPOSED ON THE GROSS RECEIPTS OF ELECTRIC CORPORATIONS; CONTAINING AN EMERGENCY CLAUSE. 3 s WHEREAS,pursuant to Section 393.275.1 RSMo, the Missouri Public Service Commission must notify the governing body of each city or county imposing a business license tax on the gross receipts of any electric corporation, of an approved rate increase for an electric corporation that exceeds seven percent (7%); and : WHEREAS, on July 13, 2011, the Missouri Public Service Commission issued a report and order in File No. ER-2011-0028 that allowed Union Electric Company d/b/a Ameren Missouri to increase the company's annual revenues from its provision of electric service by 7.11%; and WHEREAS, on July 27, 2011, the Missouri Public Service Commission approved Union Electric Company d/b/a Ameren Missouri's tariff to implement the allowed rate increase, effective July 31, 2011; and 1 WHEREAS, pursuant to its order dated August 25, 2011, the Missouri Public Service Commission notified the City Council of said rate increase; and WHEREAS, under Section 393.275.2 RSMo, within sixty days of the effective date of the tariff increase, said business license tax rate must be reduced to the extent necessary so that revenue for the ensuing twelve months will be approximately equal to the revenue received during the preceding twelve months plus a growth factor equal to the average of the additional revenue received in each of the preceding three years; provided, however, that a city or county may maintain its business license tax rate imposed on the gross receipts of electric corporations without reduction by passing an ordinance maintaining such rate; and WHEREAS, the City Council desires to maintain the business license tax rate imposed on the gross receipts of electric corporations. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. The City of University City, Missouri shall maintain the business license tax rate k imposed on the gross receipts of electric corporations under University City Municipal Code Chapter 5.32 without reduction, notwithstanding any tariff rate increase notification by the