Franchise Fees

Monroe, LA: (Apr-30-08) The city of Monroe brought charges against Entergy Louisiana, alleging that the company defaulted on franchise fees in its operating agreement. City officials stated that they had reached a settlement with the company, in which Entergy agreed to pay the city over $1.2 million to resolve the dispute. Sources stated that the largest check, just over $1 million, is Entergy's annual franchise fee, and will be put in the city's general fund. The next one for $159,507, is part of a settlement in 2002 related to a separate operating agreement. The deal stipulated that Entergy must make the annual settlement payments through 2038. Officials also declared that money from the smaller settlement check will be equally split and placed in a special capital-purchases account to buy equipment throughout the city and an employee benefits account used to offset pension and insurance increases. [KATC NEWS: MONROE RECEIVES $1.2 MILLION FROM ENTERGY SETTLEMENT]

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Published on May-1-08