Common use of Undergrounding Clause in Contracts

Undergrounding. 1. The 1990 Franchise required PSCo to fund projects for the undergrounding of overhead electrical lines in an amount equal to one percent of annual gross electrical revenues generated by service to customers in Boulder. PSCo has not provided any new funding for undergrounding since the expiration of 1990 Franchise. As a one-time settlement accommodation and without setting any precedent PSCo shall provide funding for undergrounding in an amount equal to one percent of gross electrical revenues received by PSCo from customers in Boulder for the period between the date of expiration of the 1990 Franchise and the effective date of the 2020 Franchise. 2. The funds described in subparagraph 1. above shall be in addition to the funds to be provided pursuant to paragraph 11.2 of the 2020 Franchise. 3. All funds identified in subparagraph 2. above shall be available for undergrounding projects to be completed during the first three years following the effective date of the proposed franchise. Provided, however, any unspent funds shall be available for undergrounding projects in subsequent years. Failure to complete a project in the three- year time period shall not affect the availability of funding. 4. The prioritization and selection of the overhead facilities to be undergrounded shall be governed by the mutual agreement of the Parties pursuant to the Distribution Partnership Agreement and the 2020 Franchise.

Undergrounding. 1. The 1990 Franchise required PSCo to fund projects for the undergrounding of overhead electrical lines in an amount equal to one percent 1% of annual gross electrical revenues generated by service to customers in Boulder. PSCo has not provided any new funding for undergrounding since the expiration of 1990 Franchise. As a one-time settlement accommodation and without setting any precedent PSCo shall provide funding for undergrounding in an amount equal to one percent of gross electrical revenues received by PSCo from customers in Boulder for the period between the date of expiration of the 1990 Franchise and the effective date of the 2020 Franchise. 2. The funds described in subparagraph (1. ) above shall be in addition to the funds to be provided pursuant to paragraph 11.2 of the 2020 Franchise. 3. All funds identified in subparagraph (2. ) above shall be available for undergrounding projects to be completed during the first three years following the effective date of the proposed franchise. Provided, however, any unspent funds shall be available for undergrounding projects in subsequent years. Failure to complete a project in the three- three-year time period shall not affect the availability of funding. 4. The prioritization and selection of the overhead facilities to be undergrounded shall be governed by the mutual agreement of the Parties parties pursuant to the Distribution Partnership Agreement and the 2020 Franchise.