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Council seeks $50,000 bond in Atmos Gas franchise agreement; acceptance contingent on Atmos' agreement
Summary
Town Attorney Mark Fenyk recommended increasing the bond referenced in section 9 of the Atmos Gas Franchise Agreement; the council recommended raising it to $50,000 and voted to accept the agreement only if Atmos agrees to that amount.
Town Attorney Mark Fenyk reviewed the Atmos Gas franchise agreement and noted that section 9 references a $10,000 bond. Fenyk proposed increasing the bond; discussion considered an intermediate $25,000 and ultimately a $50,000 figure. The council voted to recommend changing the bond amount to $50,000 and then passed a separate motion to accept the franchise agreement if Atmos agrees to increase the bond to $50,000.
Fenyk described the bond figure as a contractual term in section 9; the council's action was recorded as a recommendation and a conditional acceptance of the franchise agreement pending Atmos' concurrence. The motions passed by unanimous votes of 5 AYES and 0 NOES.
